Reuters Market Eye - The Sensex and the Nifty rose in early trade, led by gains in Tata Consultancy Services (TCS.NS) ahead of its Jan-March earnings and banking stocks on hopes the Reserve Bank of India would take measures to enhance liquidity.
TCS, India’s top software exporter, is expected to post a net income of 28.21 billion rupees in Jan-March, as per Starmine data.
Traders expect the market to be rangebound, grappling with derivatives expiry this week and foreign tax issues.
A fall in Nifty on Friday, which traders are attributing to a trading error, is also weighing on the market. The National Stock Exchange, however, denied the speculation.
The country’s main 30-share BSE index up 0.24 percent to 17,414 points, and the 50-share NSE index rose 0.23 percent to 5,302 points.
Reporting by Abhishek Vishnoi