Nifty gains after Infosys earnings beat estimates

Reuters
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Stock brokers engage in trading at a brokerage firm in Mumbai February 14, 2008. REUTERS/Arko Datta/ …

Reuters Market Eye - The Nifty is 0.1 percent higher after Infosys April-June earnings beat estimates. India's software stocks gain after Infosys Ltd , India's second-largest software services exporter, posted a 21.6 percent increase in quarterly net profit, beating estimates.

Infosys gains 3 percent, Tata Consultancy Services up 1.4 percent, Wipro is up 1.7 percent, HCL Technologies rises 1.6 percent while Tech Mahindra advances 2.1 percent.

However, broader gains were capped on weak Asian stocks due to troubles at a small Portuguese bank managed to wrongfoot investors already made anxious by the U.S. earnings season and a spate of disappointing economic data globally.

(Reporting by Abhishek Vishnoi)

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