Nifty edge higher as TCS earnings boosts IT stocks

  • Reuters
  • Stock Market News
Nifty edge higher as TCS earnings boosts IT stocks

BENGALURU, Jan 11 (Reuters) - Indian shares opened higher on Monday led by gains in information technology shares after Tata Consultancy Services , the country's top software exporter, reported strong results and provided an upbeat outlook.

The blue-chip NSE Nifty 50 index .NSEI rose 0.6% to 14,436 and the benchmark S&P BSE Sensex .BSESN climbed 0.57% to 49,062.03 by 0346 GMT.

The Nifty IT index .NIFTYIT rose 1.9%, while TCS TCS.NS gained 1.5% to hit a record high at 3,230 rupees.

TCS on Friday reported higher December-quarter profit and predicted stronger growth ahead, kickstarting corporate earnings season. of D-Mart operator Avenue Supermarts rose 2.8% after the company reported a 16.4% jump in December quarter profit over the weekend. (https:// Asian shares took a breather on Monday while Treasury yields were at 10-month highs as "trillions" in new U.S. fiscal stimulus plans were set to be unveiled this week. MKTS/GLOB

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