Sensex hits highest level in nearly two months

Reuters Market Eye - The BSE Sensex is up 0.5 percent after marking its highest intraday level in nearly two months while the Nifty gains 0.23 percent.

Shares in Tata Consultancy Services , India's largest software services exporter, gain 5.2 percent after earlier touching an all-time high of 1,759 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 rising 1.9 percent and Wipro gaining 1.2 percent.

The BSE IT index gains 3 percent after earlier making its all-time high at 7,132.54.

Mahindra and Mahindra gains 2.1 percent on value buying after a near 10 percent fall in July as of Thursday's close was seen as overdone.

 

Bajaj Auto , India's second-largest motorcycle maker, gains 4 percent as its June-quarter operating margins, after adjusting for mark-to-market loss, beat estimates at 20.4 percent, analysts say.

(Reporting by Abhishek Vishnoi)