Sensex rises to one-week high after FIIs turn buyers

Reuters Market Eye - The BSE Sensex and Nifty gain 0.5 percent, marking their highest in a week.

Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday to snap their five-day selling streak totalling $542 million in secondary markets, provisional exchange and regulatory data shows.

Among shares of blue chips, Infosys Ltd is up nearly 1 percent, while Sun Pharmaceutical Industries Ltd rises 3.2 percent.

Analysts say that with the Nifty taking support at its 200 day moving average, any follow-up buying by foreign institutional investors (FIIs) will help reverse the short-term trend which had turned down.

(Reporting by Abhishek Vishnoi)