BSE Sensex Headed for First Daily Gain this Year

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January 8, 2014 8:23 PM EST

The BSE Sensex and the Nifty are trading up around 0.3 percent each, heading towards their first gain this year after five straight days of falls.

Reuters
A bronze bull sculpture is seen outside the Bombay Stock Exchange (BSE) building in Mumbai, in August, 2013 (Reuters).

Export-driven IT and pharmaceutical shares gain on expectations a weaker rupee and healthier overseas markets will boost earnings.

Tata Consultancy Services (TCS.NS) gains 1.24 percent, whileInfosys (INFY.NS) is down 0.8 percent on caution ahead of its Oct-Dec earnings on Friday.

Sun Pharmaceutical Industries (SUN.NS) gains 1.5 percent, while Cadila Healthcare (CADI.NS) is up 4.8 percent.

However, concerns remain about foreign flows after overseas investors sold 13.29 billion rupees worth of index futures on Tuesday, leading to total sales of 23.34 billion rupees over the previous three sessions, according to exchange data.

(Photo: Reuters / )
A bronze bull sculpture is seen outside the Bombay Stock Exchange (BSE) building in Mumbai, in August, 2013 (Reuters).
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