Ahead of advance tax data, Sensex at a two-week high

The 30-share benchmark index rose 1.1 percent after earlier hitting its highest since 29 February as rising optimism about the US economy filters down to an improved outlook for earnings in India Inc.

Specifically, traders are more hopeful about the advance taxes that domestic companies are due to file by March 15, and which some believe could hint at improved corporate earnings.

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But trading will remain volatile, with the RBI meeting and government budget looming large at the end of the week.

The BSE benchmark was up 197 points at 17,784.73 and the NSE benchmark rose 61.3 points at 5,420.85.

The gains in Sensex were led by Reliance Industries , Infosys , Housing Development Finance Corporation and Oil and Natural Gas Corporation.

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