By Arnab Paul
(Reuters) - Indian shares rose on Friday, led by gains in IT stocks such as Tech Mahindra Ltd, as global sentiment improved after U.S. President Donald Trump agreed to meet North Korean leader Kim Jong Un.
However, analysts feel that domestic markets have largely discounted global cues, but added that the uncertainty around the tariff on steel and aluminium imports proposed by Trump could have a short-term impact on steel companies.
"I would bet on IT stocks, especially mid-caps, because valuations are low and strong earnings are expected," Rudramurthy added.
The Nifty was up 0.17 percent at 10,260 as of 0608 GMT, while the Sensex was 0.12 percent higher at 33,390.51.
Both the indexes are down nearly 2 percent for the week and are on track for their biggest weekly fall in four.
Construction firm H.G. Infra Engineering Ltd fell as much as 6.4 percent to 252.70 rupees on its market debut.
GTL Infrastructure Ltd hit lower circuit of 20 percent after the company said the impact of Aircel's insolvency will be materially adverse for the company.
(Reporting by Arnab Paul in Bengaluru; Editing by Vyas Mohan)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)