BSE Sensex gains over 200 points; ITC, HDFC rise

Reuters Market Eye - The BSE Sensex is up more than 200 points in afternoon trade, while the 50-share Nifty gains 65 points. The gains in global stocks underpinning risk sentiment, although U.S. monthly jobs data later in the day may be the key.

ITC shares are up 2.2 percent, while HDFC gains nearly 3 percent.

Expectations that the RBI will cut rates later this month boosting banks: HDFC Bank is up 1.6 percent, while ICICI Bank gains 1.35 percent at 1:58 p.m.

Technology shares fall on profit-taking: Infosys shares are down 1.14 percent after rising on Thursday to its highest since April 13, 2011 while Tata Consultancy Services declines 0.5 percent after touching a record high on Thursday.

 

(Reporting by Manoj Dharra)