Continuing with the rally, Indian stock markets continued to rise for the fourth day as well. On back of heavy buying information technology and real estate shares, Sensex on Friday surged 255.68 points to 20,528.59 points while Nifty climbed 75.25 points to 6,096.20. Sensex had gained 378 points in the last three sessions.
Experts gave credit of the rally to the Infosys who announced its second quarter results. Company registered a jump of 1.61 per cent in its net profit to Rs 2,407 crore and also revised its dollar guidance upwards to 9-10 per cent for the current fiscal from 6-10 per cent earlier. Apart from information technology, markets got strength from real estate shares which surged after Securities Exchange Board of India (SEBI) issued draft norms for listing real estate investment trusts.
Sectorally, Information technology index jumped the most by 3.12 per cent followed by bank, capital goods and real estate indices which gained 3.09 per cent, 2.77 per cent and 2.66 per cent respectively. Brokers added that profit booking was seen in metal index which fell by 1.49 per cent. Out of the 30 Sensex components, 20 stocks gained while 10 ended with losses. Foreign institutional investors (FII) were also seen buying and as per the provisional data FIIs bought a net Rs 1,010.45 crore of shares.
Along with stock markets, rupee also gained by 32 paise and closed at its two- month high of Rs 61.07 per dollar. Currency analysts said that rupee gained on back of fresh capital inflow in the equity markets.