February 20, 2013 / 4:42 AM / 5 years ago

MARKET EYE-Indian shares gain for 3rd day; Reliance Ind leads

* The BSE index gains 0.32 percent, while the 50-share
NSE index is up 0.31 percent, heading for a third
consecutive session of gains after hitting 2013 lows on Friday.
* However, traders warn this week's gains are likely driven by
purchases of recently under-performing sectors and may not
sustain ahead of the federal budget.
* Shares in Reliance Industries gain 1.8 percent a day
after the company said it will invest over $5 billion in the
next three to five years with UK partner BP to boost
declining output at a key natural gas field off India's east
coast. 
* DLF shares gain 1.5 percent, extending a recent rally
on continued hopes of an earnings recovery. The property
developer has gained 8.6 percent in the previous two sessions.
* Welspun Corp, however, fell 2.24 percent after
National Stock Exchange excluded the company's shares from
trading in the futures and options segment from April 26,
without giving a reason.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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