Benchmark indices extended their early morning gains after a 2-day losing streak led by broad-based buying across key sectors as gains in global peers also lifted sentiment.
The BSE Sensex gained as much as 750 points to reclaim the 50,000 level, while Nifty rose above the 15,100 marks where the bank and financials are among the best gainers.
BSE Sensex is currently 50,282, up 717 points or 1.45% and Nifty50 is currently 15,106, up 200.20 points or 1.34%.
HDFC twins, ICICI Bank, Reliance and Infosys among top contributor to the index gain in the noon trade. IndusInd Bank surged 3.3%, followed by HDFC Bank climbed 2.95%, ICICI Bank and HDFC are up over 2% on the BSE Sensex.
Among sectoral front, Nifty Banking and Financial Services surge over 2% to drive an all positive trade on Friday while Realty, Media and Metal stocks remain bullish.
Out of 50 stocks traded on the NSE, 46 advanced and 4 declined.
State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries and South Indian Bank are set to release their quarterly earnings today.
On the commodity front, gold prices in India traded lower on the Multi Commodity Exchange (MCX) following a muted trend in the international spot prices. Gold futures for June delivery fell 0.27% to Rs48,414 per 10 grams and Silver futures traded 0.58% lower at Rs71,882 per kg on the MCX.
