Sensex hits one-week high; gas explorers, IT stocks lead

Reuters Market Eye - The BSE Sensex gains 1.93 percent and the broader Nifty is 1.87 percent higher, after earlier hitting their highest levels in a week.

Data showing March quarter current account deficit was lower than expected supported sentiment.

Shares in oil and gas explorers gain on media reports that a government committee is meeting later in the day to contemplate a hike in natural gas prices, dealers say.

Oil and Natural Gas Corporation gains 4.2 percent, Oil India is up 1.7 percent and Reliance Industries rises 3.7 percent.

IT companies gain on hopes recent rupee depreciation would aid their earnings, dealers say. Indian rupee hit a record low of 60.76 to a dollar on Wednesday.

 

Tata Consultancy Services gains 2.8 percent and Infosys is up 3.2 percent.

(Reporting by Abhishek Vishnoi)