BSE Sensex rises over 150 points; IT stock lead

Reuters Market Eye - The BSE Sensex rises 0.8 percent and the Nifty is up 0.7 percent, led by gains in TCS which is trading nearly 3 percent higher and Infosys is up 1.6 percent.

Dr Reddy's is among top gainers. The stock was trading 2.9 percent higher as of 12.13 p.m.

Shares in Future Retail Ltd fall 2.5 percent on Friday after the government said foreign supermarkets entering India must invest in new supply infrastructure, rather than buying existing assets.

Dealers say sustained fears that a weakening rupee would lead foreign investors to pare positions may hit blue chips.

Also, foreign institutional investors (FIIs) have sold about 50.5 billion rupees of index futures in the last five trading sessions, indicating they are bracing for lower levels in shares in the near term, dealers add.