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Sensex jumps around 300 points as IT shares recover

A man walks past the Bombay Stock Exchange (BSE) building in Mumbai December 5, 2013. REUTERS/Danish Siddiqui

Reuters Market Eye - The BSE Sensex and the Nifty rise more than 1 percent each. IT outsourcers recover from steep falls on Wednesday after Tata Consultancy Services Ltd and HCL Technologies Ltd post better-than-expected earnings. TCS gains and HCL Tech are up around 1 percent each. Gains also track higher Asian rivals after comments from Fed Chair Janet Yellen stressing the need to deliver continued policy stimulus. Among blue chips, ICICI Bank gains 3.12 percent, while Tata Motors is up 3.7 percent. However, overseas investors sold Indian shares worth of 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data shows, marking their third consecutive session of outflows. (Reporting by Abhishek Vishnoi)