Sensex gains to near record highs; IT stocks recover

Reuters Market Eye - The BSE Sensex gains 0.4 percent, while the Nifty adds 0.31 percent, recovering from falls in the previous session to stay within touch of record highs.

Export-oriented sectors such as software services and drug makers gain, recovering from recent falls.

A rally since last week that sent both the Sensex and Nifty to record highs, has been driven by domestically-focused sectors such as lenders and capital goods, while exporters stumbled due to a stronger rupee.

Tata Consultancy Services gains 1.4 percent, rising for a second consecutive session, but is still down around 4 percent for the month, compared with an around 4 percent gain in the Nifty so far in March.

 

Sun Pharmaceutical Industries gains 3.3 percent after slumping 7 percent over the previous four sessions.

(Reporting by Indulal P)