Sensex gains nearly 1 pct; IT shares hit record high

Reuters Market Eye - The benchmark BSE index gains 0.96 percent, while the broader NSE index is up 0.84 percent, heading for a third session of gains.

Software exporters gain to record highs on improving U.S. business prospects.

Tata Consultancy Services Ltd is up 2.6 percent after earlier hitting an all-time high of 2,007 rupees, while Wipro Ltd gains 3.4 percent after touching a 52-week high at 490.05 rupees.

Oil and Natural Gas Corp Ltd also gains 1.5 percent adding to Thursday's gains of 2.1 percent on market speculation the government may announce a hike in diesel prices after parliament's monsoon session ends on September 6.

 

India will release GDP data for the April-June quarter at 1200 GMT. The economy is expected to have grown at a dismal 4.7 percent, a Reuters poll showed, after growing 4.8 percent annually in the March quarter.