Nov. 30 (Bloomberg) -- India's Sensitive Index rose after Federal Reserve Chairman Ben S. Bernanke reinforced speculation that U.S. policy makers will cut borrowing costs to bolster growth. Infosys Technologies Ltd. led software exporters higher.

``Positive global cues are driving our markets higher,'' said Sanjay Dongre, who oversees about $1 billion in stocks at UTI Asset Management Co. in Mumbai. ``Investors are expecting a rate cut in the next Federal Reserve meeting.''

State Bank of India, the nation's biggest by assets, rose after it got approval for its first sale of new shares in more than a decade.

The Bombay Stock Exchange's benchmark Sensex gained 359.93, or 1.9 percent, to 19,363.19. The index slid 2.4 percent this month, its biggest monthly drop since February. The S&P/CNX Nifty Index on the National Stock Exchange rose 128.15, or 2.3 percent, to 5,762.75. Nifty Futures for December delivery added 2.1 percent to 5,803.50.

Tata Consultancy Services Ltd., India's largest software exporter, rose 37.2 rupees, or 3.8 percent, to 1,013.95, its biggest gain in almost two months. Infosys, the second biggest, added 34.45 rupees, or 2.2 percent, to 1,604.05. Wipro Ltd., the No. 3 computer-services provider, climbed 9.8 rupees, or 2.2 percent, to 460.30. Satyam Computer Services Ltd., the fourth- largest, gained 14.35 rupees, or 3.4 percent, to 439.95.

Indian software companies get more than half their sales from the U.S.

Standard & Poor's 500 Index added 0.1 percent yesterday, rounding off its first three-day gain since Sept. 14. Futures for the S&P 500 rose as much as 0.7 percent after Bernanke said policy makers must decide whether the risks between growth and inflation have shifted.

`Flexible, Pragmatic'

A day earlier, Vice Chairman Donald Kohn said decision makers must be ``flexible and pragmatic'' in response to a credit market ``deterioration.'' Federal funds futures show traders see a 100 percent chance of a quarter percentage point reduction in the benchmark U.S. rate on Dec. 11, with a 26 percent probability of a half-point move.

State Bank advanced 30.5 rupees, or 1.3 percent, to 2,300.30. The lender, 59.73 percent state-owned, got cabinet approval to raise as much as 167 billion rupees ($4.2 billion) by selling stock to existing shareholders, a government spokesman said in New Delhi on condition of anonymity.

Overseas funds sold a net 4.5 billion rupees worth of Indian shares on Nov. 28, according to information posted on the Securities & Exchange Board of India's Web site.

The following shares rose. Stock symbols are in brackets after company names.

Cement makers: ACC Ltd. (ACC IN), India's biggest cement producer led gains among cement companies on a report companies may increase prices starting tomorrow. Cementmakers may charge as much as 5 rupees (13 cents) more per 50-kilogram bag in the western Indian state of Maharashtra, CNBC TV-18 channel reported, without saying where it obtained the information.

ACC climbed 20 rupees, or 1.9 percent, to 1,089.45. Grasim Industries Ltd. added 95.9 rupees, or 2.6 percent, to 3,792.95.

DLF Ltd. (DLFU IN) rose 62.05 rupees, or 7 percent, 943.90, its biggest advance in one month. The nation's biggest real-estate developer is planning to become the franchisee for Italian luxury brand Salvatore Ferragamo, the Business Standard newspaper reported, citing people familiar with the development

Jet Airways Ltd. (JETIN IN) rose 8.35 rupees, or 1 percent, to 830.75. The nation's biggest domestic carrier got government approval to fly to Paris, Barcelona, Manchester and Vienna, the Economic Times reported, citing an unidentified official at the country's civil aviation ministry.

Lanco Infratech Ltd. (LANCI IN) gained 17.5 rupees, or 3.4 percent, to 531.85. The Indian construction company won an order valued at 1.01 billion rupees to build a water-supply network in the state of Madhya Pradesh.

Punj Lloyd Ltd. (PUNJ IN) rose 34.95 rupees, or 7.4 percent, to 509.95, climbing the most in a month. Sembawang Engineers & Constructors, a unit of Punj Lloyd, said it won a S$463 million ($320 million) contract to build a subway station in Singapore.

Reliance Communications Ltd. (RCOM IN) added 9.8 rupees, or 1.5 percent, to 674.85. The mobile service provider is set to place orders worth $5.6 billion to buy telecommunications equipment by next year, the Mint newspaper reported, citing unidentified analysts.

Shipping Corp. of India Ltd. (SCI IN) added 25.85 rupees, or 10.7 percent, to 267.45, gaining the most since Oct. 15. The country's biggest shipping company rose after the government gave the state-owned marine carrier permission to buy six ships.

Tata Steel Ltd. (TATA IN) advanced 23.55 rupees, or 2.9 percent, to 825.70. Riversdale Mining Ltd., an Australian coal- mining company, completed an accord with Tata Steel to develop two coal projects in Mozambique. Tata paid A$100 million ($89 million) for a 35 percent stake in Riversdale's Benga and Tete exploration licenses in the southern African nation, the Sydney-based company said.

To contact the reporters on this story: Pooja Thakur in Mumbai at pthakur@bloomberg.net.

Last Updated: November 30, 2007 08:13 EST