BSE Sensex hits 1-1/2-month high; Infosys surges

Reuters Market Eye - The Sensex gains 0.72 percent and the Nifty is up 0.42 percent, after hitting their highest levels since May 31 earlier in the day.

Infosys shares surge 10.7 percent, to mark their highest intraday level in 23 months, after the company defied some analysts' expectations and retained its revenue growth forecast for the full year.

Other IT stocks also rise, taking cues from Infosys results. Tata Consultancy Services Ltd gains 2 percent and Wipro Ltd is up 2.2 percent.

Reliance Industries Ltd gains 0.9 percent after India's oil minister said on Thursday that the decision to raise prices of locally produced gas will not be reviewed, allaying fears that New Delhi may consider a roll-back.

 

(Reporting by Abhishek Vishnoi)