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BSE Sensex gains over 100 points; banks lead

Source : REUTERS
Last Updated: Fri, Mar 08, 2013 05:45 hrs
People walk pass BSE building in Mumbai

Reuters Market Eye - The BSE Sensex is up 0.68 percent, while the 50-share Nifty gains 0.72 percent, heading for its biggest weekly gain since the week ended December 1, 2012 after three previous consecutive days of gains.

The gains in global stocks underpinning risk sentiment, although U.S. monthly jobs data later in the day may be the key.

Expectations that the RBI will cut rates later this month boosting banks: HDFC Bank is up 1 percent, while ICICI Bank gains 1.2 percent at 11:06 a.m.

Technology shares fall on profit-taking: Infosys shares are down 1.4 percent after rising on Thursday to its highest since April 13, 2011 while Tata Consultancy Services declines 0.3 percent after touching a record high on Thursday.

(Reporting by Manoj Dharra)



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