Indian shares extended gains on Thursday with the NSE index clocking its biggest percentage gain since May 25 as excitement builds up ahead of some key quarterly results including that from Tata Consultancy Services. The broader NSE index ended up 1.12 percent at 10,096.40 while the benchmark BSE index closed 1.09 percent higher at 32,182.22. Both indexes ended at their highest since September 21.
Tata Consultancy Services gained about 2 percent while Reliance Industries Ltd, which is slated to post results on Friday, climbed over 4 percent and contributed to mostt of the gains on the indexes "Market has been witnessing a broad-based consolidation mode for a few months now which will continue for a while. This earnings season is critical as the first quarter was disappointing and hopes are now pinned to see a recovery in the second quarter," said Rakesh Tarway, head of research at Reliance Securities. Meanwhile, India's inflation data for September will be released later in the day.