Bombay Stock Exchange BSE
Indian stock markets rose by more than 1 percent on Friday, with the country's largest IT software services firm TCS leading the rally on Sensex. At an analysts' meet, the Tata Group company said digital was becoming mainstream and contributed about 13 percent to its CY2015 revenues. Picture: The Bombay Stock Exchange building pictured next to a police van in Mumbai April 9, 2014.Reuters file

Indian stock markets ended the Friday session with gains of more than one percent tracking global cues. The benchmark S&P BSE Sensex closed at a two-month high, led by TCS, GAIL (India) and Adani Ports. The 50-scrip NSE Nifty closed above the psychological mark of 7,600, a gain of 91.80 points, or 1.22 percent.

The Sensex rally was led by India's largest IT software services firm TCS that closed with a gain of 3.21 percent at Rs 2,427.25. The buoyancy was attributed to a presentation by the company to analysts where it showcased its strengths in digital business.

"TCS showcased its digital expertise across verticals in the analyst meet. Management believes that digital is becoming mainstream and now contributes ~13% of CY15 revenues," financial services firm Prabhudas Lilladher said in a Friday note. 

"In the near term, management indicated that Diligenta business will bottom out in 4QFY16 and hence growth is likely to improve in CY16 in our view," the firm added. 

BSE graph

Other Sensex gainers included GAIL (India), Adani Ports, State Bank of India, Infosys, BHEL, Mahindra and Tata Steel. The Sensex settled at 24,952, a gain of 275 points, or 1.12 percent.

Other scrips that gained on the BSE included Mahindra CIE, Eros International, Cox & Kings and Voltas. Cement stocks also gained in Friday's trade. 

Stocks that bucked the overall trend and traded lower included Lupin, Sun Pharma, Hindustan Unilever and Maruti Suzuki. 

The rally on Indian stock markets was also driven by an uptick in Asian equity markets including the Straits Times and the Hang Seng.

Nifty gainers included Vedanta, Hindalco, ACC, Bosch and Adani Ports. 

Gold ETFs ended the day on a mixed note. While Birla Sun Life Gold ETF was the biggest gainer at 2.29 percent, Quantum Gold Fund ETF was the biggest loser at 1.27 percent. 

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