Indian shares rose 0.52 percent on Wednesday, their fifth straight day of gains, fuelled by positive economic data emerging from the US, dealers said. The benchmark 30-share Sensex index rose 81.38 points to 15,769.85. The markets were choppy as investors and funds chose to book profits, with share prices up 6.5 percent in the last five days.
Local fund managers are concerned about the below-normal monsoon and widespread drought in India, threatening crop failure across several states. "The markets moved up on positive global cues and buying interest in software and power stocks," said Alex Mathews, head of research, with Geojit BNP Paribas Financial Services.
Gainers led losers 1,943 to 851 on turnover of 68.65 billion rupees (1.4 billion dollars). Software stocks were main gainers. Wipro rose 12.75 rupees or 2.34 percent to 557.25, after the company announced Wednesday a five-year agreement with global oil and gas giant BP for IT applications.
Infosys Technologies, rose 85.25 rupees or 4.07 percent to 2,181.35 and the largest exporter TCS rose 19.8 rupees or 3.75 percent to 548.3, on hopes of a recovery for the US economy.
Tata Motors rose 8.4 rupees or 1.7 percent to 498.65, after its group chairman Ratan Tata said on Tuesday that the Indian auto sector was on the path to recovery.