Sensex rises; lenders gain ahead of results

Reuters Market Eye - The BSE Sensex gains 0.33 percent and the Nifty is up 0.5 percent. Rate sensitive stocks such as HDFC Bank gain ahead of quarterly results later in the week, and also on hopes of rate cut by RBI on its May 3 meet.

HDFC Bank is up 2.6 percent, while ICICI Bank is up 1.8 percent. Tata Motors Ltd gains 1.3 percent after unit Jaguar Land Rover China chief said it aims to increase its sales by 20-30 percent this year in China, its biggest market.

However, shares in Wipro Ltd , India's third-largest software services provider, fall 10 percent in pre-open trade after it gave weaker-than-expected quarterly sales forecast on Friday.

 

(Reporting by Abhishek Vishnoi)