* NSE index up 0.3 pct, BSE index 0.4 pct higher
* Nifty IT index rises as much as 1.6 pct
* Pharma stocks biggest losers
By Shivam Srivastava
Jan 12 Indian shares edged up on Thursday, led
by IT stocks on hopes U.S. President-elect Donald Trump may not
proceed with stringent visa rules.
Gains were however limited as pharma stocks fell on Trump's
comment that drug makers were "getting away with murder" in what
they charge the government for medicines, and promised that
However, he did not make any announcements on potentially
tougher visa rules for software services exporters, a concern
for the sector ever since his election.
"IT companies valuations have come down over concerns
related to U.S. H1B1 visas and visa fees. Something was expected
to be announced in relation to this by Trump on Wednesday and
that did not happen, so the market took the positive cues," said
KK Mital, vice president of Venus India.
The broader NSE index was up 0.34 percent at
8,409 as of 0528 GMT, while the benchmark BSE index was
0.4 percent higher at 27,250.49.
The Nifty IT index rose as much as 1.6 percent,
accounting for most of the gains, and led by Infosys Ltd
which was up 2.26 percent. Oracle Financial Services
was up 2.15 percent.
However, Tata Consultancy Services, which is
expected to report December-quarter results later in the day,
fell 0.51 percent.
Pharma stocks were the biggest losers with the Nifty Pharma
index shedding as much as 2.24 percent, heading for
its first drop in three sessions.
Among top losers, Cadila Healthcare Ltd was down
1.91 percent, while Aurobindo Pharma Ltd was 1.43
(Reporting by Shivam Srivastava in Bengaluru; Editing by