* NSE index up 0.39 pct, BSE index 0.49 pct higher
* China April services sector expansion slows, employment
rebounds
* Investors await fresh trading cues
May 5 (Reuters) - Indian shares rose on Thursday with blue
chips such as Tata Motors TAMO.NS rebounding after a
three-session losing streak was seen as overdone, though broader
gains were capped by persistent worries about the economy and
mixed earnings results.
The cautious mindset was compounded by mixed economic data
from China, which showed the services sector expanded at a
slower pace in April, though firms did resume adding staff.
Back home, sentiment remained jittery as investors parsed a
raft of mixed earnings reports and awaited for fresh trading
cues after a 12 percent rally in the past two months.
"Markets had risen sharply in the past two months so
obviously there is some nervousness and urge for profit-booking
now, but the undertone remains positive. If we have good monsoon
then market can move up 5 percent from here," said Sudip
Bandyopadhyay, chairman and managing director of Inditrade
Capital.
The broader NSE index .NSEI was up 0.39 percent at
7,736.54 as of 0622 GMT, after falling as much as 0.1 percent
earlier in the session.
The benchmark BSE index .BSESN was 0.49 percent higher at
25,224.17.
Tata Motors rose as much as 3 percent after slumping 7
percent on Wednesday.
Meanwhile, Sun Pharmaceuticals SUN.NS gained 1.3 percent
after the company announced positive phase-3 data for plaque
psoriasis drug tildrakizumab.
Among the decliners, Adani Port and Special Economic Zone
APSE.NS fell 3 percent, down for a second straight session
after Jefferies cut its price target as it believed a slowdown
in core port earnings growth would cap any upside in Adani Port.
Idea Cellular IDEA.NS , India's third largest telecom
company, fell more than 5 percent. Idea may spend $1.3 billion
in adding data spectrum in an upcoming auction around July, the
Economic Times reported, citing a note from HSBC.