Infosys was the biggest gainer among Sensex companies, rising 5.67 percent. Its operating revenue rose 8.9 percent to ₹45,479 crore in the December quarter.

Markets surged amid strength in IT stocks, Sensex rose 188 points, find out how the market will play out on January 19.

Stock Market News: Shares of IT giant Infosys returned to domestic stock markets on Friday after a two-day lull. Major indices closed with modest gains. The BSE Sensex rose 188 points, while the Nifty gained 29 points.

The BSE's 30-share benchmark Sensex, after two consecutive trading sessions of decline, closed 187.64 points higher, or 0.23 percent, at 83,570.35. At one point during trading, the Sensex had jumped 752 points to 84,134.97.

At the same time, NSE's 50-share benchmark index Nifty closed at 25,694.35 points with a gain of 28.75 points i.e. 0.11 percent.

Infosys became the biggest reason for the boom

Among Sensex companies, Infosys shares saw the biggest gain, rising 5.67 percent. The company's operating revenue increased 8.9 percent to ₹45,479 crore in the December quarter. Infosys also raised its revenue growth forecast for the current fiscal year to 3–3.5 percent, boosting investor confidence.

Apart from this, shares of Tech Mahindra, HCL Tech, State Bank of India, UltraTech Cement and HDFC Bank were also among the major gainers.

These stocks saw a decline

On the other hand, shares of Eternal, Asian Paints, Bharat Electronics, Sun Pharma and Maruti declined, which put a break on the market rally to some extent.

Vinod Nair, Head of Research at Geojit Investments Ltd, said, "The market witnessed positive sentiment on the back of strong quarterly results from IT and mid-cap banking stocks. However, profit-booking in the final hour of the trading session limited the upside."

According to stock market data, foreign institutional investors (FIIs) sold shares worth ₹4,781.24 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth ₹5,217.28 crore. It's worth noting that the stock market was closed on Thursday due to the municipal elections in Maharashtra.

State of global markets

In Asian markets, South Korea's Kospi closed higher, while Japan's Nikkei, China's Shanghai Composite and Hong Kong's Hang Seng ended in the red. European markets were trading lower, while US markets closed higher on Thursday.

International oil benchmark Brent crude rose 1.05 per cent to $64.43 per barrel, which could have an impact on market movements in the coming days.