   1 of 2. Brokers trade on their computer terminals at a stock brokerage firm in Mumbai August 22, 2013. Credit: Reuters/Danish Siddiqui MUMBAI | MUMBAI (Reuters) - The BSE Sensex rose on Monday to close at its highest in nearly a week with Sesa Goa surging a day ahead of its inclusion in the benchmark index while IT stocks rose on hopes of better realisations as the rupee resumed its fall against the dollar. The rupee weakened tracking offshore rates as sustained foreign selling in equities continued to raise concerns about the gaping current account deficit. Fitch Ratings also said it was getting more challenging for India to meet its fiscal deficit target in the current fiscal year ending March 2014, with revenues slowing. Traders remain wary about foreign flows after overseas investors sold about $720 million of shares in the previous six sessions through Friday, ahead of June quarter GDP data and the expiry of August derivatives contracts this week. "It's more of a dead cat bounce. The range of 5,500-6,000 on NSE index has shifted to 5,250 to 5,500 now," said Vijay Kedia, director at private wealth management firm Kedia Securities. Foreign investors are increasingly looking more prepared to sell Indian shares than buy in the near term, added Kedia. The benchmark BSE Sensex rose 0.21 percent, or 38.69 points, to end at 18,558.13, to mark their third consecutive day of gains. The broader Nifty rose 0.09 percent, or 4.75 points, to end at 5,476.50 - its highest close in nearly a week. Sesa Goa Ltd (SESA.NS) surged 9.6 percent ahead of its inclusion in the BSE Sensex. IT shares rose on hopes of better realisations as the rupee continued to weaken against the dollar after a sharp rise in the previous session. Infosys Ltd (INFY.NS) rose 1 percent, Tata Consultancy Services Ltd (TCS.NS) gained 0.7 percent while Wipro Ltd (WIPR.NS) ended 2.4 percent higher. Hexaware Technologies Ltd (HEXT.NS) ended 6.1 percent higher after Baring Private Equity Asia agreed to buy a controlling stake in it for about $420 million. Larsen & Toubro Ltd (LART.NS) gained 1 percent after Barclays upgraded the stock to "overweight", citing a potential recovery in earnings and valuations. Reliance Industries Ltd (RELI.NS) gained 0.4 percent adding to Friday's 1.7 percent rise after it and British oil company BP Plc (BP.L) announced a new gas condensate discovery off the east coast of India in the Cauvery basin. However, among stocks that fell, IDFC Ltd (IDFC.NS) slumped 8.7 percent after the Reserve Bank of India on Friday cut the limit that foreign investors can own in the infrastructure lender to 54 percent from 74 percent without giving a reason. Oil and Natural Gas Corp (ONGC.NS) fell 3.1 percent after it agreed to buy 10 percent in a gas field offshore Mozambique from Anadarko Petroleum Corp for $2.64 billion, as the explorer looks to offset diminishing supplies from domestic gas fields by buying overseas assets. (Editing by Sunil Nair)
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