Sensex turns positive for 2014; outperforms Asian indices

MUMBAI (Reuters) - The BSE Sensex turned positive for the year after rising more than 1 percent for its biggest daily gain since mid-January, as continued foreign investor buying is sparking optimism about blue-chips such as ICICI Bank.

The gains were helped by a recovery in emerging markets following signs that Russia may be seeking to avoid further escalation of its military involvement in Ukraine, although gains in India far outperformed the region.

The BSE Sensex provisionally rose 1.26 percent, for a gain of 0.2 percent for the year, marking its biggest daily percentage gain since January 13.

The broader Nifty ended up 1.23 percent.

 

By contrast, the MSCI Asia-Pacific index excluding Japan rose 0.1 percent.

ICICI Bank Ltd provisionally rose 3.7 percent, while Larsen and Toubro Ltd gained 1.8 percent.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)