Reuters Market Eye - The BSE Sensex and the Nifty gain around 0.5 percent. FIIs bought shares worth 11.24 billion rupees on Friday, snapping a 13-day selling streak, data from the NSE shows, raising hopes this week's rally would continue.
Foreign investors also bought 16.91 billion rupees worth of index futures on Friday which is further stoking expectations of a short covering-led rally, dealers say.
Reliance Industries gains 1.2 percent, heading for a third day of gains after the government approved a hefty increase in gas prices on Thursday.
Among blue chips, Larsen and Toubro gains 2.4 percent while State Bank of India is up 1.4 percent.
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