Market up on encouraging result by Infosys

The 30-share index, which lost 287 points on Thursday, bounces back by 227.74 points to 20,809.82 in the first five minutes of trade.

The Bombay Stock Exchange benchmark Sensex rose 228 points in early trade on Friday on emergence of buying by funds enthused by the encouraging result posted by software firm Infosys Technologies.

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The 30-share index, Sensex, which lost 287 points yesterday, bounced back by 227.74 points to 20,809.82 in the first five minutes of trade.

Similarly the wide-base National Stock Exchange's Nifty rose by 48.80 points at 6,204.75 as heavy-weights like Reliance Industries, Infosys, Satyam and Tata Steel traded higher.

The software major Infosys today posted 25.22 per cent increase in consolidated net profit at Rs 1,231 crore for the quarter ended December 31, compared to Rs 983 crore for the same quarter in 2006.