Sensex Rises over 100 pts, Nifty above 7950

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Equity benchmarks started off Thursday's trade on a positive note, continuing upside for third consecutive session. 

The Sensex rose 138.25 points to 26019.42 and the Nifty climbed 31.55 points to 7966.45.

 L&T shares rallied 9 percent in early trade as brokerages turned bullish on the stock after better-than-expected earnings in January-March quarter. 

Citi has upgraded the stock to buy from neutral and target price raised to Rs 1,640 from Rs 1,230 apiece. 

Tata Steel fell nearly a percent after reporting a loss of Rs 3,279 crore in Q4.

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