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MUMBAI -- Indian shares ended higher Friday, drawing support from sharp gains in Asian indexes and led by heavyweight technology company Infosys as well as bank stocks.
The Bombay Stock Exchange's Sensitive Index rose 0.5% to end at 17,562.61, after trading between 17,474.39 and 17,702.26. On the National Stock Exchange, the 50-stock S&P CNX Nifty gained 0.4% to finish at 5,284.20.
The BSE's provisional cash market trading volume increased to 23.80 billion rupees from Thursday's 21.99 billion rupees. Gainers outnumbered decliners 1,580 to 1,234 while 162 stocks were unchanged.
Greece's shelving of a planned referendum on its bailout package and an unexpected interest rate cut by the European Central Bank supported sentiment, though Indian shares pared some gains mid-session as investors shed positions ahead of a long weekend.
"Investors have turned cautious. No one wants to carry overnight positions ahead of a three-day weekend, especially with uncertainty surrounding the euro zone," said Jigar Lodaya, associate vice president at brokerage Sharekhan.
Indian markets are shut Monday for a holiday. The trading week is further shortened by another holiday Thursday.
Mr. Lodaya expects the Sensex to trade between 17,300 and 18,500 in November.
Despite Friday's gains, broad sentiment remains fragile, said Arun Kejriwal, director at Kejriwal Research & Investment Services.
Gainers included Infosys, up nearly 1.0% at 2,829.10 rupees, and ICICI Bank, 0.8% higher at 885.20 rupees. State Bank of India, which reports second-quarter results next week, climbed 1.5% to 1,964.25 rupees.
Bharti Airtel reversed early losses to end 1.4% higher at 397.95 rupees. The telecom operator reported a disappointing 38% drop in second-quarter net profit, hurt by a weaker Indian currency and a surge in interest expenses.
Reliance Industries, which has the highest weight on the Sensex, reversed early gains to end down 0.6% at 879.60 rupees.
Consumer goods maker Hindustan Unilever fell 0.9% at 378.85 rupees. The scrip rose 10.5% in the past one week.
source: http://online.wsj.com
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