Markets closed on a flat note with a positive bias on Friday with the benchmark Sensex closing at 20,758, up 45 points or 0.22 per cent. The Nifty too closed at 6,171 up 3 points or 0.05 per cent.

On the BSE, IT and tech sector supported the Sensex with their sectoral index rallying the highest to close 2.16 and 1.76 per cent higher than their previous close. Realty and banking weighed down the Sensex performance by closing lower by 1.56 per cent and 1.55 per cent respectively.

Infosys shares rallied 2.84 percent to close at Rs 3,548.90 a share after the company increased its full year (FY14) dollar revenue guidance to 11.5-12 per cent from 9-10 per cent earlier.

Net profit of the company rose 19.4 per cent sequentially, higher-than-expected to Rs 2,875 crore.

IndusInd Bank was the first bank announcing third quarter earnings today. Net profit and net interest income grew 30 per cent and 26.3 per cent year-on-year, respectively. However asset quality deterioration in the quarter has continued to remain a concern.

Alex Mathews, Head Research, Geojit BNP Paribas Financial Services said: "Highly volatile trading session was seen in the markets today on the back of both economic and corporate earnings."

Volatility was down with the India VIX index closing at 15.58, down 3.71 per cent.

Infosys, ITC, TCS, Wipro and Dr Reddy were the top five Nifty gainers while Indusind Bank, IDFC, Coal India, Ranbaxy and Ambuja Cements were the top laggards.

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