Sensex up 200 points; Infosys surges on good earnings

A benchmark index of the Indian equities markets rose 216 points Friday led by strong rally in IT stocks after Infosys announced good quarterly numbers and raised revenue forecasts.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened sharply higher at 20,535.90 points, was trading at 20,489.40 points in the afternoon, up 1.07 percent or 216.49 points from its previous day close at 20,272.91 points.

The benchmark Sensex touched a high of 20,559.69 points and low of 20,368.06 points in the intra-day.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was trading 1.17 percent or 70.20 points higher at 6,091.15 points.

There was strong buying support in IT stocks after the country's second largest software exporter Infosys revised its revenue guidance upwards in rupee and dollar terms for the 2013-14 fiscal.

The company reported a net profit of Rs.2,407 crore for the quarter ended September 2013 as compared to a net profit of Rs.2,374 crore in the previous quarter.

The share price of Infosys surged 4.57 percent to Rs.3,267 at the Bombay Stock Exchange.

IT index of the BSE jumped 2.77 percent. Realty index was up 3.2 percent and capital goods index was up 2.73 percent.

Other prominent Sensex gainers were: ICICI Bank up 4.72 percent at Rs.992.65; Tata Motors, up 4.52 percent at Rs.388.55; and L&T, up 4.13 percent at Rs.880.90.