Sensex gains over 250 points as Infosys, property stocks rally

MUMBAI (Reuters) - The Sensex and the Nifty rose more than 1 percent to a three-week high as technology stocks advanced after Infosys raised the lower end of its fiscal year revenue guidance, while property developers gained after the country unveiled new REIT regulations.

Infosys Ltd shares rose 4.7 percent. Although India's second-largest software services exporter posted quarterly profit that missed analyst estimates, investors cheered the change to the lower end of its revenue guidance.

Shares of real estate developers including DLF Ltd and Unitech Ltd gained after the market regulator announced draft rules to allow the establishment of real estate investment trusts (REITs) in the country.

 

The Sensex rose 1.26 percent, while the Nifty ended up 1.25 percent higher, both marking their highest close since September 19.

(Reporting by Himank Sharma; Editing by Rafael Nam)