Markets near five week high; TCS, Tata Motors up 3%

Meanwhile, Maruti Suzuki slips nearly 5% along with Wipro, HUL, RIL, HDFC Bank and Hero MotoCorp down 1-2%

Markets continue to trade firm as buying in heavyweights like TCS, Tata Motors, L&T and ONGC help the indices trade near five week highs. At 1300 hrs, the Sensex was up 79 points at 21,066 and the Nifty added 15 points to trade at 6,254.

Meanwhile, the broader markets was seeing a mixed session with the smallcap index up 0.1% and the midcap index  added 0.3% almost in line with the benchmark index.

The rupee is trading lower at 62.05 per dollar versus close of 61.98/99 on Wednesday. Month-end dollar demand from importers is likely to keep the USD/INR pair bid.

On the sectoral front, Oil & Gas, Realty, Power and Consumer Durables indices were down 0.1-0.8%.

On the other hand, the Health Care index gained nearly 2% along with Capital Goods, IT, Teck and Metal indices up 0.8-1%.

Meanwhile, after the recent outperformance, the FMCG index was flat with a positive bias.

Maruti Suzuki down nearly 5% was the top Sensex loser. The scrip fell as doubts persist about the impact of the automaker's plan to source cars from a plant to be built by its parent Suzuki Motor Co.  

NTPC, Wipro, Hindustan Unilever, Reliance Industries, HDFC Bank and Hero MotoCorp down 1-2% were the top losers of the hour.

Reliance Industries slipped below Rs 800 for the first time in past six months, on the NSE. The stock is currently trading at its lowest level since August 28 last year.

Among the gainers were Hindalco, Tata Motors, TCS, Axis Bank, Dr Reddys Lab, ONGC, BHEL and Sun Pharma up 2-4%.

The market breadth was marginally negative on the BSE. 1,209 stocks declined while 1,199 stocks advanced on the BSE.

Global Markets

Asian stocks shook off their gains and headed south on Friday, as unrest in Ukraine offset comforting words from U.S. Federal Reserve Chair Janet Yellen that markets took as confidence in the U.S. economy.

The fear factor helped the yen rise against the dollar and euro on its traditional safe-haven appeal as tensions mounted in Ukraine, even after Yellen's testimony to a Senate committee helped the S&P 500 close at a record high.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%, though it was still on track for a modest weekly gain, while Tokyo's Nikkei stock average skidded 1.1%.

The ascendant yen battered exporter shares and cancelled out any lift from data showing Japanese factory output rose in January at the fastest pace in more than two years and core inflation stood close to a five-year high.

Hong Kong shares fell on Friday afternoon, with mainland markets also weaker, as investors cut their exposure in cyclical outperformers ahead of a manufacturing survey and a key China parliamentary meeting next week at which leaders are expected to stick to a cautious approach to reforms.