By Tanvi Mehta
(Reuters) - Indian shares rose on Friday and looked set to post a weekly gain with most sectors trading higher and energy stocks climbing on softer crude prices.
U.S. tariffs on $34 billion worth of Chinese exports took effect on Friday, and concerns of retaliation by Beijing somewhat dampened sentiment across the region.
Asian stocks wobbled, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.1 percent, but the Nikkei stock index rose 1.1 percent.
"Markets have bottomed out and we will see correction across sectors... for next few days. There was a lot of pessimism across the board - domestic items, crude prices, international geopolitics - and that has been priced in," said Jayant Manglik, President-Retail Distribution, Religare Broking.
Consumer and auto stocks are doing well due to good progress of the monsoon, he added.
A good monsoon is crucial to the Indian economy as it pushes up farm incomes, in turn driving demand and consumption.
The broader NSE Nifty was up 0.47 percent at 10,799.80 as of 0605 GMT, poised to end the week 0.81 percent higher.
The benchmark BSE Sensex was 0.47 percent higher at 35,741.03, on track for a 0.9 percent weekly gain.
Oil refiners rose on the back of lower crude prices, with Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd up 3.5 percent and 2 percent respectively.
Auto stocks also gained, with Tata Motors Ltd and Hero MotoCorp among the top percentage gainers on the NSE index.
Tata Motors had plunged in the previous session after unit Jaguar Land Rover said that a so-called "hard Brexit" would cost it 1.2 billion pounds ($1.59 billion) a year.
Real-estate developer Ltd Sobha Ltd climbed as much as 6.3 percent after reporting strong sales volume for the June-quarter. The Nifty Realty Index rose as much as 2 percent.
($1 = 0.7560 pounds)
(Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)
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