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Markets have come off morning highs as weakness in IT heavyweights capped gains in RIL and other bluechips. At 1130 hrs, the Sensex was up 167 points at 25,188 and the Nifty added 43 points at 7,517.
In the broader markets, the kid and smallcap indices gained 1% each, outperforming the BSE benchmark index which was up 0.7%.
IT and Teck indices down 1% each were the top sectoral losers. Profit booking dragged Metal and Power indices lower. The indices were down 0.6% and 0.3% respectively.
Oil and Gas and Realty indices up 3.5% along with banking index up 1.5% were the top sectoral gainers.
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(Updated at 1130 hrs)
Benchmark indices continue to maintain the upbeat trend tracking firm global cues along with oil and realty shares leading the gains.
By 10:20, the Sensex was higher by 190 points at 25,171 mark and the Nifty gained by 38 points 7,512 levels.
On the global front, 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.
Trading was hesitant as attention quickly shifted to the US payrolls report due later on Friday where the outcome is considered even more uncertain than usual.
The ECB action provided enough of a boost to risk sentiment to generate a 0.4% lift in MSCI's broadest index of Asia-Pacific shares outside Japan.
But Japan's Nikkei went flat after again shying away from testing April's peak at 15,164. Speculation that more government pension funds will flow into the market helped sentiment somewhat.
Back home, foreign institutional investors (FIIs) bought shares worth a net Rs 1,368.97 crore on Thursday, as per provisional data from the stock exchanges.
The rupee is trading at 59.20 versus the dollar, higher than yesterday’s close.
On the sectoral front, BSE Realty and Oil & Gas indices have gained between 4-5% followed by counters like Banks, Capital Goods, Power, Metal, Consumer Durables, Auto, FMCG and Healthcare, all gaining by 1% each.
The main gainers on the Sensex are ONGC, RIL, GAIL, Tata Power, Hero Moto, Coal India, SBI and ITC.
ONGC and RIL have gained between 4-8%.
On the losing side, Sesa Sterlite, TCS, Infosys, Hindalco and Wipro have declined between 1-2%.
Shares in Infosys fell as much as 2% after a senior executive quit the company, several traders said.Idea Cellular has opened a QIP issue through which it will offer equity shares worth Rs 3,000 crore. The stock is up by over 2%.
Idea Cellular has surged 2.25% to Rs 139 on the BSE after opening a QIP issue through which it will offer equity shares worth Rs 3,000 crore.
Yes Bank rose 0.8% to Rs 578.85 at 9:45 IST on BSE after the bank said that its Capital Raising Committee approved the issue and allotment of 5.34 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 550 per share.
Jammu & Kashmir (J&K) Bank rose 1.9% to Rs 1600 on the BSE since it is exploring possibilities to sell its 5% stake in PNB MetLife India Insurance Company for about Rs 700 crore.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 1-2%.
The market breadth in BSE remains firm with 1,647 shares advancing and 519 shares declining.
