Sensex up over 1 percent; may turn positive for 2014

Reuters Market Eye - The BSE Sensex is up 1.1 percent, while the broader Nifty gains 1.07 percent, turning just about flat for the year after steadily climbing since last month to recover from January's falls.

Only Indonesia among the "Fragile Five" economies seen vulnerable to the U.S. Federal Reserve's stimulus tapering has turned positive for 2014, mainly due to strong foreign flows.

Overseas investors bought Indian shares worth 1.98 billion rupees on Monday, despite a selloff in emerging markets over military tensions in Ukraine, extending their buying streak to the 12th day for a total of $765 million.

Among blue-chips, ICICI Bank gains 3.3 percent while ITC is up 0.9 percent.

 

(Reporting by Abhishek Vishnoi)