Sensex gains; foreign investors continue to buy

Reuters Market Eye - The BSE Sensex gains 0.52 percent while the broader Nifty advances 0.37 percent, after earlier marking their new 2-1/2-year intraday highs, as foreign portfolio investors extend their record buying spree.

Foreign investors have been net buyers for 22 consecutive sessions as of Friday, bringing in a net of about $13.52 billion in 2013, regulatory and exchange data shows.

Asian stock markets edge higher after U.S. equities hit record closing highs on Friday as encouraging economic data prompted investors to buy into growth companies.

ITC Ltd gains 0.76 percent, recovering from a 0.6 percent fall on Friday when its January-March earnings met estimates. Analysts said results were overall healthy, but investors had initially reacted to disappointment about the lack of any major announcements.

 

State bank of India is up 1.03 percent on expectations its March-quarter earnings due on Friday would beat estimates.

Coal India Ltd gains 1.87 percent ahead of its March-quarter earnings later in the day.

(Reporting by Abhishek Vishnoi)