Infy effect: Sensex up by 150 points

New Delhi: Markets have given thumbs up to Infosys fourth quarter results and are trading at higher levels.

Leading the uptrend are IT pivotals like Infosys, Satyam, TCS and Wipro.

The benchmark Sensex, which had lost over 69 points on Thursday, recovered 150.70 points at 13,264.51 points in the first five minutes of trading on Friday.

Similarly, on the wide-based National Stock Exchange, Nifty index was up by 32.90 points at 3,862.75 points.

The better-than-expected fourth quarter earnings announced by the Infosys mainly buoyed the trading sentiments.

The Nasdaq-listed software major announced net profits of Rs 1,124 crore for the fourth quarter of 2006-07 as against Rs 664 crore in the same period last year.

Infosys Technologies stocks were up by nearly Rs 57 at Rs 2,100 on funds and retail investors buying. Satyam Computer and Wipro were also in the positive zone.

Reliance Capital, Reliance Communication, ITC Ltd, Larsen and Toubro, ONGC and State Bank of India were also advanced, lifting the Sensex higher.

Asian stocks were mostly higher on Friday, with Japan's Nikkei 225 Average nudging into positive territory, led by gains in Sony Corp following reports the consumer electronics giant will post strong earnings for the current fiscal year.

Japan's Nikkei gained 0.14 per cent or 24.75 points at 17,565.17, Hong Kong's Hang Seng surged 0.24 per cent or 49.38 points at 20,429.59, Singapore's Straits Times was up 0.10 per cent or 3.49 points at 3,376.18. However, Taiwan's Taiwan Weighted plunged 0.40 per cent or 31.97 points at 8,043.23 and South Korea's Seoul Composite was down 0.23 per cent or 3.56 points at 1,522.05.