April 10 (Reuters) - Indian shares opened higher on Friday in a broad rally led by financials, while a drop in TCS after its quarterly results and uncertainty over a fragile Middle East ceasefire capped gains.
The Nifty 50 rose 0.72% to 23,944.95 and the Sensex added 0.70% to 77,189.05 as of 9:21 a.m. IST.
The broader small-caps and mid-caps rose about 1% each. Thirteen of the 16 major sectors advanced.
High-weight financials rose 1.6% on the day and 8.2% for the week, on course to snap a six-week losing streak driven by record high foreign outflows from the sector in March.
IT index fell 1.5%, dragged by TCS which lost 2% after it reported a 9.7% rise in revenue and a 12.2% increase in net profit for the March quarter.
While the Q4 operating performance was in line, macro uncertainties, softness in BFSI cloud predictability, said analysts led by Dipeshkumar Mehta of Emkay Global
Nifty 50 and Sensex have gained about 5.5% each, so far this week, putting them on track to snap a six-week losing streak after the United States and Iran agreed to a temporary two-week ceasefire.[.BO]
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy)
