Indian shares edged up 0.21 percent on Thursday, but profit-taking erased most intraday gains, as the markets rose for a fifth straight day, dealers said. The benchmark 30-share Sensex index rose 33.31 points to 16,216.86, a 15-month high. The Sensex rose to a day's high of 16,434.77 points, but slipped from there on an overseas funds sell-off.
India's inflation rate stayed in negative territory for the 13th week, official data showed Thursday, despite food prices rising amid a below-normal monsoon. Losers led gainers 1,710 to 1,093 on turnover of 66.89 billion rupees (1.38 billion dollars). Bharti Airtel added 7.4 rupees or 1.81 percent to 417.25, after hitting a day's high of 424.4 amid media reports that it had sweetened its offer to buy a 49-percent stake in South Africa's MTN.
ICICI Bank gained 24.65 rupees or 3.12 percent to 815.55 while Infosys Technologies added 42 rupees or 1.92 percent to 2,235.1. Tata Steel advanced 10.45 rupees or 2.27 percent to 470.35, on hopes of higher steel consumption this quarter. This week Tata Steel said its steel production rose 25 percent in the month of August to 492,000 tonnes from a year earlier.
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