Sensex gains ahead of WPI data; IT stocks lead

Reuters Market Eye - The BSE Sensex gains 0.88 percent, while the broader Nifty is up 0.85 percent.

Gains also tracking higher Asian markets on Wednesday as the World Bank upgraded its outlook for the global economy while the dollar extended gains in the wake of surprising strength in U.S. consumer spending.

Software exporters such as Tata Consultancy Services Ltd gain on optimism ahead of quarterly results on Thursday.

Tata Consultancy Services up 1.83 percent, while HCL Technologies Ltd gains 1.78 percent.

State-run Coal India Ltd gain 2.5 percent after the company on Tuesday said it will pay an interim dividend of 29 rupees a share, or 183.2 billion rupees, in the current fiscal year.

 

Traders watch for December wholesale price inflation, seen at 7 percent and due 1200 IST, ahead of the Reserve Bank of India's rate review on January 28.

(Reporting by Abhishek Vishnoi)