BSE Sensex rises; banking, metals stock gain

Reuters Market Eye - The BSE Sensex gains 0.95 percent while broader Nifty was 0.98 percent higher. Bank shares gain 2.2 percent adding to Monday's 1.2 percent rise after finance minister announced a fiscal deficit target of 4.1 percent of the GDP, and a gross market borrowing of 5.97 trillion rupees, below market expectations.

Metal stocks up on value-buying as investors bet on higher global prices and a spurt in Chinese buying.

Tata Steel up 1.8 percent, Hindalco Industries gains 1.9 percent while Jindal Steel and Power up 6.2 percent.

Shares also get a boost after overseas investors bought Indian stock worth 5.22 billion rupees on Monday, provisional data showed.

 

(Reporting by Indulal P)