Sensex gains; tech stocks lead

Reuters Market Eye - The Sensex gains 0.27 percent, rebounding after hitting its lowest close since December 24, 2012 on Friday. The Nifty is also up 0.25 percent.

Infosys Ltd gains 2 percent, while Tata Consultancy Services Ltd is up 1.3 percent on hopes of incentives for exporters in the 2013/14 budget to be unveiled on February 28.

Shares in non-banking financial companies gain on Monday after the central bank issued guidelines allowing any business sector to apply for banking licences.

Mahindra and Mahindra Financial Services gains 5.6 percent, while IDFC Ltd is up 1.7 percent.

However, Oil and Natural Gas Corp falls 0.8 percent on expectations of higher oil subsidy burden from the 2013/14 budget, say dealers.

 

(Reporting by Abhishek Vishnoi)