Sensex, Nifty rise; trading flat; IT stocks slump

Reuters Market Eye - The Sensex and Nifty are both trading 0.4 percent higher on Friday. Asian stocks are on the defensive, as solid U.S. data gives a temporary boost and fails to dispel underlying worries about slowing world economic growth. European stocks halt sell-off.

Exit polls indicate BJP is expected to win Maharashtra, Haryana state elections. Traders say wins should help push key reforms.

Blue-chips lead gains. ITC gains 0.7 percent, while ICICI Bank adds 2.5 percent.

However, IT stocks slump on earnings disappointment.

Tata Consultancy Services falls 7.6 percent, while HCL Technologies is down 8.6 percent.