* NSE index up 0.61 pct, BSE index 0.58 pct higher
* Bharti Infratel surges after stake purchase by PE
* Private banks push finance index up
By Aby Jose Koilparambil
March 28 Indian shares gained on Tuesday as
losses in the previous session were seen as overdone, with
sentiment also improving as Asian markets recovered after some
of the anxiety about U.S. President Donald Trump's ability to
push his agenda subsided.
But broader gains are likely to be capped in the near term
as India approaches the earnings season starting next month,
Global factors will also continue to play a role as many of
the recent gains have been predicated on Trump implementing
massive stimulus measures to boost the U.S. economy.
"Markets are waiting for the results season. Structurally,
we have got most of the reforms getting in place and things are
positive on the political front. Only concern is higher
valuation levels. That makes the upcoming earnings all the more
crucial," said Siddharth Sedani, vice president, equity advisory
at Anand Rathi.
The broader NSE index was up 0.61 percent at
9,102.20 by 0638 GMT, while the benchmark BSE index was
0.58 percent higher at 29,406.14.
Among gainers, IT and drug makers recovered from losses in
the previous two sessions with HCL Technologies up 1.7
percent and Aurobindo Pharma Ltd climbing 1.6 percent,
leading gains in these sectors respectively.
Telecom tower company Bharti Infratel surged as
much as 3.63 percent after global private equity investor KKR &
Co LP and Canada Pension Plan Investment Board bought a 10.3
percent stake in the company for more than 61.9 billion rupees.
Meanwhile, Dishman Pharma soared as much as 20
percent to an all-time high after company's partner Tesaro Inc
got the U.S. Food and Drug Administration's nod for an
ovarian cancer drug.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by