Sensex gains; IT stocks rise, lenders under pressure

Reuters Market Eye - The BSE Sensex gains 0.5 percent. IT stocks rise on value buying after the recent sell-off. Infosys Ltd up 1.1 percent after a steep fall of 22 percent in April on the back of poor March quarter results, while Tata Consultancy Services Ltd gains 2.6 percent.

Rate-sensitives like ICICI Bank Ltd down 0.13 percent while HDFC Bank Ltd is down 1.2 percent, after the RBI cautioned it has limited room for further monetary easing, overshadowing the 25 basis point cut in key interest rate.

(Reporting by Abhishek Vishnoi)