MUMBAI Jan 4Indian shares edged higher on Friday to touch two-year highs as oil companies such as ONGC rose on hopes a proposed change in the government's pricing formulas would boost gas prices, while IT stocks rose on expectations for a better 2013.
Oil and Natural Gas Corp Ltd provisionally rose 1.3 percent, while Hindustan Petroleum Corp Ltd jumped 5 percent.
Tata Consultancy Services Ltd rose 1.4 percent.
The BSE index provisionally gained 0.02 percent, while the 50-share NSE index ended up 0.11 percent, both marking their highest closes since January 2011. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
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With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article