Sensex heads for second consecutive day of gains

Mumbai: BSE Sensex and Nifty are heading for a second consecutive session of gains after foreign investors bought index futures worth 860 million rupees ($14.29 million) on Monday.The net purchases snapped a 5-day selling streak totalling 2.43 billion rupees that had raised fears of reduced foreign buying in future.

Foreign investor purchases have been a key factor behind Indian shares' rally to record highs in April. Among the blue chips, ITC gains 1.5 per cent while ICICI Bank is up by 1.7 per cent.However, volatility could come in ahead of election results on May 16. Exit polls will start being disclosed after May 12 polling. BSE Sensex was up 0.4 per cent while the Nifty gained 0.3 per cent