Mumbai : Indian stocks rose for the first time in three days as Tata Consultancy Services (TCS) rebounded from its biggest loss in more than two years and Wipro climbed after reporting higher earnings. Tata Consultancy rallied 5.7 per cent, after dropping 5.8 per cent on January 17 . Wipro , India's third-biggest software provider, jumped the most in a month. Reliance Industries , owner of the world's largest oil refining complex, fell the most in four weeks after operating income dropped. The S&P BSE Sensex climbed 0.7 per cent to 21,205.05 at the close in Mumbai , following a two-day, 1.1 per cent decline. Tata Consultancy plunged last week after sales missed estimates. Wipro's net income increased 17 per cent in the third quarter, the company said, while Reliance Industries said operating income fell 7.4 per cent in the three months to December 31 . "We are bullish on the technology sector," Vaibhav Sanghavi , a director at Ambit Investment Advisors Pvt. in Mumbai , said by telephone yesterday. "We may see increased demand and discretionary spending in developed markets. Indian IT companies will be beneficiaries of that." India's top three technology companies, which get most of their sales from overseas, were among the five largest gainers on the Sensex in 2013 as growth in developed economies and an 11 percent decline in the rupee boosted the outlook for exporters' earnings. Infosys , HCL The CNX Nifty Index added 0.7 per cent to 6,303.95. The India VIX rose 0.4 percent. Tata Consultancy gained the most since April 24, 2012 . Wipro rallied 3.7 per cent, the most since December 20 , to its highest close since March 2000 . Infosys increased 0.5 per cent, while HCL Technologies climbed 3.7 per cent to a record. ITC rose 1.7 per cent to its highest level since November 3 . India's biggest cigarette company's third-quarter net income rose 17 per cent to Rs23.9 billion , beating estimates, the company said on January 17 . State Bank of India , the nation's biggest lender, added 1.3 per cent to Rs1,641.85 . Reliance Industries fell 1.7 per cent, the most since December 16 .
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