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Market Sensex opens with following marginal gains
October, 22nd 2010

The BSE Sensex may open higher on Friday, following marginal gains in other Asian markets, but Wipro may come under pressure after the country's No. 3 software exporter posted a lower profit than expected.

Wipro reported a 9.7 percent rise in quarterly profit as salary hikes and currency volatility bit into gains from improving demand for outsourcing services.

Top outsourcer Tata Consultancy Services said on Thursday after market hours said it expected robust demand for outsourcing as it posted a second quarter profit that beat expectations.

Shares in GTL Infrastructure will also be in focus after sources said the company was among the shortlisted bidders for buying a stake in the mobile tower business of Saudi Telecom.

Elsewhere in Asia, a rally in technology shares supported Asian stocks, which are headed for the first weekly decline in two months.

The MSCI's measure of Asian markets other than Japan was trading up 0.1 percent and Japan's Nikkei was 0.4 higher by 0306 GMT.

The Nifty India stock futures in Singapore were up 0.3 percent.

On Thursday, the main 30-share BSE index rose 1.95 percent 20,260.58.


* Bajaj Corp Ltd after the company's July-Sept. net profit dipped 19 percent.

* Akzo Nobel India after the firm's July-Sept. net profit dropped 12.7 percent.

* Sasken Communication Technologies after the company said it plans to spend 345.4 million rupees to buy back 9.99 percent equity in the company at up to 260 rupees a share.

* Indowind Energy Ltd after the company's July-Sept. net profit dipped 39 percent.

* Novartis India Ltd after the company's July-Sept. net profit rose 22 percent.

* SKF India Ltd after the company's July-Sept. net profit rose 32.3 percent.

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