Sensex gains over 100 points; financial stocks lead

Reuters Market Eye - The BSE Sensex gains 0.6 percent, while the broader Nifty is up 0.7 percent.

An expansion in farm output and some infrastructure helped the Indian economy recover slightly in the September quarter, but growth still hovered close to decade lows, tempering hopes of a sustained rebound ahead of elections due next year.

Financial shares lead the gains with IDFC up nearly 3 percent on continued hopes it would get a banking license.

Axis Bank gains 2.6 percent ahead of inclusion in Sensex on Dec 23.

Foreign funds were buyers of $119.22 million in Indian equities on Friday, provisional data showed.

 

Shares in Larsen and Toubro gain 2.2 percent after the company said on Friday it was evaluating options "for monetisation" of assets belonging to unit L&T Infrastructure Development Projects (IDPL).

(Reporting by Abhishek Vishnoi)