Sensex gains; IT shares hit record highs on TCS earnings

Reuters Market Eye - The BSE Sensex is up 0.49 percent and the Nifty gains 0.3 percent. Shares in Tata Consultancy Services , India's largest software services exporter, gain 5.3 percent after earlier making all-time high of 1,753 rupees, a day after posting April-June earnings that beat estimates and maintaining an upbeat outlook.

The results lift shares of other IT companies, with Infosys Ltd rising 1.9 percent and Wipro Ltd gaining 1 percent.

BSE's benchmark for IT stocks <.BSEIT> gains 3.1 percent after earlier making its all-time high at 7,124.07.

Mahindra and Mahindra Ltd gains 1.3 percent on value buying after near 10 percent fall in July as of Thursday's close was seen as overdone.

 

(Reporting by Abhishek Vishnoi)