Indian equity market advanced higher on Friday with both benchmark indexes, the BSE Sensex and the NSE Nifty50, extedning gains from the opening session.

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The 50-share broader Nifty reclaimed the 10,500 mark and moved closer towards 10,600. The NSE index was trading at 10,567, climbing 187 points or 1.8 percent at 11.45 am. The 30-share Sensex also traded above 35,000, rising more than 600 points or by 1.8 percent.

Investor sentiment buoyed as macro-economic concerns improved as rupee recovered against the US dollar amid a sharp decline in crude oil prices. The signs of rapprochement between US-China on trade tariffs front boosted the overall risk appetite.

Broader markets aided benchmark indexes in the rally with the Nifty MidCap rising 1.61 percent. The BSE MidCap also rose by 1.68 percent.

Among shares, public sector oil companies — BPCL, IOC, HPCL — were among top gainers as crude prices hovered at sub-$73 per barrel mark. BPCL surged nearly 7 percent, while IOC was up 5.2 percent.

Vedanta, Yes Bank, Adani Ports, M&M, Hero MotoCorp were other top percentage gainers, rising by up to 6.06 percent.

Among top losers, Wipro fell 1.5 percent, Dr Reddy's Labs was down 1.32 percent. Other major laggards were Cipla, Tech Mahindra, HCL Technologies, TCS and Infosys was down by up to 0.89 percent.

The rupee recovered against the dollar, trading at 72.86, appreciating more than 50 paise against the greenback.

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First Published:Nov 2, 2018 12:16 PM IST