Reuters Market Eye - The Sensex gains 0.73 percent, while the Nifty is trading 0.61 percent higher, inching closer to record highs hit on May 16.
Upstream oil and gas companies lead the gains, with Oil and Natural Gas Corp rising 3.5 percent and Reliance Industries Ltd advancing 2.7 percent.
Among other blue-chips, State Bank of India gains 1.25 percent.
However, shares in Infosys Ltd fell after a senior executive quit the company.
Asian markets turned mixed on Friday as investors offered only polite applause for the European Central Bank's latest stimulus package, while the euro went off-script in a vicious short-covering rally.
Also, foreign portfolio investors bought Indian shares worth 13.69 billion rupees ($230.8 million) on Thursday, provisional exchange data showed.
(Reporting by Indulal P)
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