Sensex edges up; telecom stocks gain, IOC falls

Reuters Market Eye - The BSE Sensex gains 0.24 percent while broader Nifty is up 0.18 percent.

Shares in telecom companies gain with Bharti Airtel rising 0.79 percent after winning airwaves in the premium 900 megahertz band spectrum.

However, Indian Oil Corp shares fall 1.5 percent after the company reported a net loss of 9.61 billion rupees in the December quarter.

Overseas investors bought Indian shares worth 3.99 billion rupees on Thursday, provisional exchange data shows. Foreign investors were net buyers for the second straight session after a nine-day selling streak in the secondary share market, the data showed.

(Reporting by Indulal PM)