Indian equity benchmark indices began Friday’s session on an upbeat note following a relief rally in the US markets overnight.

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NSE

The 30-scrip S&P BSE Sensex rose 500 points to 56,320, while the broader NSE Nifty climbed 150 points to 16,780. The overall breadth of the market remained positive with 1,919 stocks advancing, 525 declining and 100 unchanged.

UltraTech Cements opened with a gain of over 1 percent. HCL Tech & Tata Motors amongst other top gainers. Wipro, Infosys, Tech Mahindra and Reliance Industries were the major gainers on Nifty.

In the broader markets, the BSE MidCap and SmallCap indices also opened in green, rising up to 0.8 percent.

Amid sectoral indices, Nifty IT gained over 2 percent following a strong rally in US tech stocks on overnight. Nifty Bank, PSBs, and Pharma gained as well.

VA Tech Wabag rose over 7 percent after the company secured a consortium order for the Mamelles Sea Water Desalination worth about 146 million euro.

Aether Industries will debut on the bourses today. The company's initial public offering (IPO), which was subscribed 6.3 times, saw a strong demand from institutional investors. The issue price was fixed at Rs 642.

Castrol India will also be in focus as MG Motor India and the company are set to collaborate with Jio-bp to explore mobility solutions for electric cars.

Global Markets

On Thursday, Wall Street ended with solid gains led by a rally in tech stocks. Dow Jones surged 1.3 per cent, the S&P 500 rallied 1.8 per cent and Nasdaq soared 2.7 per cent.

Mirroring the positive US cues, major markets in Asia opened on an optimistic note, with Nikkei gaining 1 percent.

Oil declined marginally on Friday after US crude inventories fell more than expected amid high demand for fuel. Meanwhile, OPEC+ (Organization of the Petroleum Exporting Countries) has agreed to boost crude output to compensate for a drop in Russian production. Brent crude was down 0.05 percent to $117.55 a barrel.

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