Sensex gains over 200 points; M&M rises

Reuters Market Eye - The BSE Sensex is up 0.95 percent, while the broader Nifty rises 0.94, with both indexes headed for a third consecutive day of gains.

IT shares gain after the rupee weakens. Tata Consultancy Services Ltd gains 1 percent while Infosys Ltd is up 1.9 percent.

Mahindra and Mahindra Ltd gains 3.5 percent ahead of its June-quarter results later in the day.

Sun Pharmaceutical Industries Ltd shares gain 1.5 percent adding to Monday's 7.1 percent rise after April-June earnings were seen as positive after factoring out a provisioning charge to settle a patent suit.

DLF gain 3.5 percent after the company's April-June earnings came in higher than expectations.

 

Still, the rupee continues to be eyed as the currency weakens on doubts about the government's latest plan to narrow the current account deficit.

(Reporting by Abhishek Vishnoi)