Sensex rises to one-month high; IT sector leads

Reuters Market Eye - The BSE Sensex gains 0.17 percent, while the Nifty is up 0.22 percent, advancing for a third consecutive session after earlier hitting their highest since January 24.

Software services exporters lead the way after the S&P 500 hit a record intraday high on Monday. Infosys shares rise 0.99 percent, while Wipro Ltd gains 2.4 percent.

Overseas investors bought Indian shares worth 2.67 billion rupees on Monday, provisional exchange data shows. Foreign investors have been net buyers of nearly $450 million over the last nine sessions.

Shares of IDFC rise 1.8 percent and L&T Finance up 4.3 percent on hopes they will be leading contenders to receive banking licences in a process seen entering its final stretch, dealers say.

 

Sugar companies gained after raw sugar futures on ICE soared to three-month highs on Monday on worries about potential crop damage from dry weather in Brazil. Balrampur Chini Mills is up 2.86 percent.

(Reporting by Indulal P)