Indian share prices edged higher on Tuesday to post a fifth straight day of gains amid caution ahead of the earnings season, dealers said. They said investors were looking to the earnings seasons for the January-March quarter, which kicks off with software exporter Infosys Technologies on Friday, to give direction to the market.
The benchmark 30-share Mumbai stock exchange Sensex closed up 11.8 points or 0.09 percent at 13,189.54, after gaining 321.66 points on Monday. As of Tuesday's close, the markets have gained nearly 5.9 percent in five days after the Sensex posted the sharpest single-day fall this year of 616.73 points a week earlier.
"The buying spree appears to be waning. Prices eased as investors turned cautious ahead of the earnings season. The Infosys earnings data and guidance will set a near-term trend," said Advait Date, dealer at brokerage BHH Securities.