Sensex Rises 0.16%; Rate Sensitive Stocks Gain

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By Naagesh N. | January 28, 2013 5:26 PM EST

The BSE Sensex is up 0.16 percent and the Nifty is up 0.14 percent. Bank stocks gain ahead of Reserve Bank of India's policy review on Tuesday, anticipating at least a 25 basis point cut in benchmark rates.

ICICI Bank (ICBK.NS) gains 0.69 percent while HDFC Bank (HDBK.NS) is up 0.17 percent.

Maruti Suzuki India Ltd (MRTI.NS) gains 1.59 percent after it said on Friday its third quarter profit more than doubled. UBS upgraded the stock to 'buy' from neutral', citing the benefits from a weakening Japanese yen.

However, oil and gas stocks fall on profit-taking, with Reliance Industries (RELI.NS) down 1.26 percent and Oil and Natural Gas Corp (ONGC.NS) falling 0.84 percent.

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