Sensex provisionally closes up 0.3

Sensex provisionally closed 0.3 higher on Friday,led by gains in IT majors

Sensex provisionally closed 0.3 percent higher on Friday,led by gains in software majors after sector leader Tata Consultancy Services posted forecast-beating quarterly earnings on Thursday.

The 30-share BSE index provisionally ended up 0.31 percent or 55.98 points at 17,965.44,with 18 components gaining.

The 50-share NSE index provisionally closed up 0.4 percent at 5,398.30 points.

Earlier in the day,Sensex was trading barely changed early on Friday,while Tata Consultancy Services rallied after the top outsourcer beat forecast and said it was seeing strong demand.

At 9:01 a.m. 0331 GMT,the 30-share BSE index was up 0.02 percent at 17,912.60 points,with 13 components advancing.

TCS rose as much as 3.6 percent to 812 rupees and went on to climb greater heights at 6 per cent.

The 50-share NSE index was up 0.04 percent at 5,380.90.

Pre-Open:Indian shares seen opening flat; TCS in focus

Shares in Tata Consultancy Services will be in focus in an expected flat Indian market early on Friday,after the top outsourcer beat forecast and said it was seeing strong demand.

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JPMorgan raised its target price for Tata Consultancy to 915 rupees by March from 850,after the company said late on Thursday its quarterly profit rose 21 percent.

Tata Consultancy shares,which have risen 4.6 percent so far this year,had closed at 784.10 rupees ahead of the result.

Top engineering and construction firm,Larsen amp; Toubro will be on the radar after it said late on Thursday it would seek shareholders approval on Aug. 26 to raise as much as 600 million.

Leading utility vehicle maker Mahindra amp; Mahindra,will be watched after a company spokesman told Reuters it would decide on a bid for troubled South Korean car maker Ssangyong Motor on July 28.

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The MSCI8217;s measure of Asian markets other than Japan was down 0.2 percent by 0256 GMT,while Japan8217;s Nikkei dropped 1.6 percent.

The Nifty India stock futures in Singapore were barely changed.

On Thursday,the 30-share BSE index closed 0.16 percent lower at 17,909.46.

STOCKS TO WATCH

Software services provider Zensar Technologies after a top official said it plans to invest 50 million rupees in FY11,mainly to set up two development centres.

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Jet Airways Ltd,India8217;s top private carrier,after it entered into a code sharing agreement with Kenya Airways,in a move aimed at increasing air traffic between India and Africa.

Private-sector lender Dhanalakshmi Bank after sources told Reuters it launched an institutional share sale for raising up to 60 million.

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