Defensive stocks gain; investors look to reduce risk

Reuters Market Eye - India's software and pharmaceutical exporters, seen as defensive stocks, gain as investors look to reduce risk and volatility in their portfolios as local indexes edge lower on profit taking.

In software stocks, Tech Mahindra gains 2.6 percent while Wipro rises 1.6 percent.

Among pharmaceutical stocks, Lupin Ltd gains 1.9 percent while Dr.Reddy's Laboratories rises 0.8 percent.

(Reporting by Abhishek Vishnoi)