* NSE, BSE indexes up about 0.3 pct
* Value-buying seen across sectors - analyst
* Yes Bank slumps on bad loan worries
By Darshana Sankararaman
April 20 Indian shares rose on Thursday as
investors picked beaten down counters, including technology
stocks that lost ground on disappointing quarterly results from
software services exporters Infosys Ltd and Tata
Consultancy Services Ltd.
The NSE index has fallen about 1.7 percent since it hit a
record high on April 5.
However, an official forecast of an average monsoon in 2017
and expectations of positive quarterly results are expected to
push markets higher in the near-term, said analysts.
"An extended period of consolidation over the last one week
has rendered stocks slightly cheaper compared to previous month
levels. That may have attracted some bargain hunting," said
Anand James, chief market strategist at Geojit Financial
Infosys Ltd, which lost about 5 percent on a
lower-than-expected revenue guidance, was up 0.7 percent, while
Tech Mahindra Ltd rose 1 percent, rebounding from five
days of declines.
"Markets are now able to look beyond IT stocks, which have
been a slight disappointment," he said.
The broader NSE index was up 0.35 percent at
9,135.15 by 0645 GMT, after dropping for five straight sessions.
The benchmark BSE index was 0.30 percent higher at
State-run lenders too recovered from recent falls, with the
Nifty PSU bank index gaining as much as 1.5 percent.
It fell 1.7 percent in the previous session.
Private sector lender Yes Bank Ltd lost as much as
5.3 percent after it reported a 66 percent surge in provisions
for bad loans. ICICI Bank Ltd and Axis Bank Ltd
were down about 2 percent each.
(Reporting By Darshana Sankararaman in Bengaluru; Editing by