The better-than-expected third quarter results of Infosys helped the IT counter regain interest after

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falling for four sessions in a row, over worries of an appreciating rupee. Infosys gained as much as 4 per cent while the other IT exporters soared between 3 per cent and 5 per cent.

The enthusiasm on the IT counter also got boosted after the Infosys management revised upward both the rupee and the dollar term revenues guidance for the financial year 2009-10, indicating an improvement in the overall demand environment.

“The Infosys results beat our expectations. Revenue growth on a quarter-on-quarter basis along with the upward revision in revenue guidance cheered sentiments on the IT counter,” said Gaurav Dua, head of research at ShareKhan.

“Infosys has always been conservative when it comes to revenue guidance. This time the firm has estimated better revenue growth for the financial year. Other IT companies may follow the suit,” said Jagannadham Thunuguntla, head of research at SMC Capitals.

Infosys guided a revenue growth of 3.7 per cent to Rs 22,500 crore on a year-on-year (y-o-y) basis in rupee terms for FY10 while it expects dollar revenue growth at 2 per cent to $4.76 billion. Although the BSE Sensex fell 0.59 per cent, the BSE IT index climb 195.35 points, or 3.91 per cent. Wipro surged 4.89 per cent, TCS jumped 4.88 per cent, and HCL Technologies climbed 3.68 per cent.