The Indian equity benchmark indices opened on a strong note on Friday led by buying across the board amid positive cues.

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At 9:15 am, the Sensex opened 1.17 percent, or 549.11 points higher at 47,423.47, while the Nifty50 index opened at 13,946.60, up 129.05 points, or 0.93 percent.

Broader markets supported the rally with Nifty Smallcap100 and Nifty Midcap100 indices up over 1 percent each.

All the sectoral indices were trading in the green with the Nifty Auto, Nifty Metal, Nifty PSU Bank, Nifty Realty and Nifty Fin Services up more than 1 percent each.

Finance Minister Nirmala Sitharaman will present the Economic Survey 2020-21 in the Parliament today, which, according to sources, has forecast India's FY22 growth at close to 11 percent.

Shares of TVS Motor Company rallied over 6 percent after the company's Q3FY21 consolidated net profit rose to Rs 265.6 crore from Rs 121.1 crore, while revenue increased 30.7 percent to Rs 5,391.4 crore from Rs 4,125.5 crore, YoY.

On the Nifty, Tata Motors, IndusInd Bank, BPCL, ONGC and Eicher Motors were the top gainers, while Axis Bank, Britannia Industries, TCS, GAIL India and Shree Cement were the top index losers.

Meanwhile, in Asia, stock markets recovered on Friday but are headed for their steepest weekly loss in months, as a liquidity squeeze in China and a Wall Street retail-trading frenzy has unnerved investors.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9, but is headed for a weekly loss of more than 3 percent, the sharpest such fall since September. Japan's Nikkei was steady but tracking toward its first weekly loss of 2021, having fallen 1.5 percent since last Friday.

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