Sensex rebounds, TCS gains on earnings

The BSE Sensex gains 0.5 percent, while the 50-share Nifty is up 0.41 percent, rebounding from earlier falls.

Tata Consultancy Services gains 1.9 percent after posting a 44 percent rise in quarterly profit late on Friday.

ICICI Bank gains 1.9 percent, recovering from a 0.7 percent fall on Friday, while HDFC Bank gains 1.1 percent.

Analysts cite expectations the RBI may cut the cash reserve ratio, or the amount of deposits lenders must keep with the central bank, at its policy review on October 30.

A cut in the repo rate is seen as less likely, with only 9 out of 37 analysts predicting such an outcome in a Reuters poll out last week.