Sensex rises tech shares lead

SENSEX-RISES-TECH-SHARES-LEAD:Sensex rises tech shares lead

 

Reuters Market Eye - The Sensex gains 1.2 percent, while the Nifty is up 1.12 percent.

Asian shares rose on Friday on hopes that economic reforms and budget plans unveiled by Spain will help the debt-saddled nation manage its debt imbalances, a move seen as an effort to pre-empt the likely conditions of international assistance.

Technology stocks gain after Accenture Plc forecast full-year earnings ahead of analyst estimates as it bolsters its outsourcing business to offset a slowdown in consulting, sending its shares up 5 percent in after-market trading.

Infosys rose 0.6 percent while Tata Consultancy Services rose 1.5 percent.

 

Also raising confidence, India has raised taxes on rail fares and vowed to stick to its planned borrowing target for the year, underlining its will to curb its fiscal deficit and avoid a credit ratings downgrade.