Stocks in India advanced for the second day in a row on Thursday as traders covered shorts and rolled over their derivatives contracts that were set to expire later in the day. Also helping the rally was a strong showing from Indian software stocks such as Wipro(WIT Quote) and Infosys(INFY Quote), following a move by Citigroup(C Quote) that raised its earnings estimates for the software sector due to an adjustment higher for the rupee against the U.S. dollar.
"The markets rose on continued short-covering. We may, however, see unwinding of positions if inflation data is weak tomorrow," said Bhaskar Kapadia, a partner with brokerage Pyramid Securities.
The Bombay Stock Exchange's Sensex Index rose 201.75 points, or 1.4%, to 14,422.82. Here's a look at how some India-based American depositary shares traded in the U.S. on Thursday. ...
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