Sensex up 0.8 percent; blue chips lead on value buying

Reuters Market Eye - The BSE Sensex is up 0.82 percent, while the Nifty is 0.86 percent higher, recovering after three sessions of falls. ITC Ltd shares gain 1.2 percent, while Reliance Industries is up 1.3 percent on value buying.

Overseas investors bought shares worth 2.89 billion rupees ($47.8 million) on Tuesday, provisional exchange data shows, totalling 51.20 billion rupees for 2014 so far.

Shares of Bharti Airtel , India's top mobile phone carrier, up 1.3 percent after the company reported a surge in quarterly profit, in line with expectations.

(Reporting by Abhishek Vishnoi)