[1]The BSE Sensex shrugged off a subdued start and climbed 1.1 percent on Wednesday, with export-driven outsourcers among the gainers on expectations for robust quarterly earnings.
Traders said the market was consolidating after falling for five consecutive sessions, and investors would be watching the guidance that companies release with the results.
Infosys Technologies, which gets more than 90 percent of its revenue from exports, rose as much as 1.3 percent ahead of its earnings on Friday.
Bigger rival Tata Consultancy Services and No. 3 outsourcer Wipro gained 2 and 1.3 percent respectively.
The top three outsourcers are expected to post strong quarterly profit and indicate robust revenue growth for the year ending March 2012 as overseas clients boost technology spending in an improving global economy.
At 11:58 a.m. (0628 GMT), the 30-share BSE index was up 1.1 percent at 19,467.20 points, with 24 components gaining. It had fallen as much as 0.8 percent early.
The benchmark had climbed 9.1 percent in March, its biggest monthly rise in six months, but is down 5 percent so far this year.
"The underlying sentiment is okay for the time being, not very bullish or very negative," said Gajendra Nagpal, CEO of Unicon Financial. "A clearer picture will emerge on results and guidance for this year."
Buying was seen in automobile stocks, which fell in the previous two sessions after industry data showed car sales growth could slow down in 2011.
Tata Motors, Mahindra & Mahindra, Maruti Suzuki and Bajaj Auto were up between 0.8 percent and 2.2 percent.
In the broader market, gainers were nearly double the number of losers with about 198 million shares changing hands on the BSE. The market was closed on Tuesday and is shut on Thursday for local holidays.
Engineering and construction conglomerates Larsen & Toubro and Jaiprakash Associates climbed 1.6 and 4.5 percent respectively.
Data on Monday had showed industrial output grew at a slower-than-expected 3.6 percent in February, dragged down by continued contraction in capital goods, but a hawkish central bank was still expected to tighten monetary policy as it battles stubbornly high inflation.
The infrastructure index, which dropped nearly 1 percent after the data, recouped the loss.
The MSCI's measure of Asian markets other than Japan was up 0.9 percent by 0637 GMT, while Japan'sNikkei gained 0.9 percent.
The 50-share Nifty was up 0.9 percent at 5,840.20.
STOCKS ON THE MOVE
* Compact Disc was up by daily limit of 10 percent at 62.60 rupees after the company's board approved a plan to delist its shares at 75 rupees each.
* GMR Infrastructure Ltd rose as much as 3.2 percent to 43 rupees after its group chief financial officer told Reuters the company was looking to raise $150 million through private equity for its airport arm.
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