Sensex up around 1 pct; defensive stocks lead

Reuters Market Eye - The BSE Sensex and Nifty are up around 1 percent. Gains are being led by defensive sectors such as drugmakers and consumer good stocks as investors brace for a period of uncertainty ahead of the RBI's policy review at the end of the month.

The RBI is largely expected to raise the repo rate by 25 basis points, its second consecutive monthly hike.

Lupin Ltd gains 1.7 percent, while Sun Pharmaceutical Industries Ltd is up 0.8 percent.

In consumer goods stocks, ITC Ltd is up 0.7 percent.

Larsen & Toubro Ltd gains 0.7 percent ahead of its July-September earnings later in the day.

 

(Reporting by Abhishek Vishnoi)