Sensex rises more than 100 points; rate sensitives lead

Reuters Market Eye - The BSE Sensex gains 0.7 percent, while the 50-share Nifty is up 0.67 percent. Rate-sensitive shares lead gains on growing hopes Reserve Bank of India will cut interest rates later this month. ICICI Bank Ltd gains 2.2 percent, while Tata Motors is up 3 percent.

GMR Infrastructure shares gain 2.9 percent a day after it said it would sell its 70 percent stake in the Island Power Project in Singapore to FPM Power Holdings for S$660 million.

(Reporting by Manoj Dharra)