Sensex gains more than 70 points; Tata Motors surges

Reuters Market Eye - The BSE Sensex and Nifty rise but caution is expected ahead of Fed Chair Janet Yellen's testimony before the U.S. Congress later in the day.

Tata Motors Ltd rises 2.7 percent after the company's third-quarter net profit tripled to its highest in a year-and-a-half on strong demand for its luxury Jaguar Land Rover vehicles.

Sun Pharmaceutical Industries is up 0.3 percent after earnings at U.S. unit Taro Pharmaceutical Industries beat estimates, traders said.

Tata Steel gains 1.6 percent on optimism ahead of its December-quarter results later in the day.

Also, foreign investors sold Indian shares for an eighth consecutive session on Monday, totalling sales of $655 million.

 

The BSE Sensex was up 78 points while the Nifty gained 19 points as of 11.44 a.m