The Indian equity benchmark indices opened higher on Friday led by buying across the board amid a positive trend in Asian peers.

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At 9:15 am, the Sensex opened 302.68 points or 0.87 percent higher at 35,144.78, while the Nifty50 index opened at 10,378.90, up 90.00 points or 0.87 percent.

Broader markets, Nifty Smallcap100 and Nifty Midcap100, were up over 1 percent each.

All the sectoral indices traded in the green with Nifty PSU Bank, Nifty Metal and Nifty Media rising more than a percent each.

IndusInd Bank, ONGC, Infosys, Zee Entertainment and ITC led the gains among Nifty50 constituents while Bharti Infratel, Kotak Mahindra Bank, HCL Technologies, Hindustan Unilever and NTPC were the top index losers.

Meanwhile, the International Monetary Fund (IMF), in its latest Global Financial Stability report, said that the investors seem to be betting that lasting strong support from central banks will sustain a quick recovery even as economic data point to a deeper-than-expected downturn.

Shares of Reliance Industries gained almost 1 percent after Fitch Ratings upgraded the company’s long-term local currency issuer default rating to BBB+ from BBB. The outlook is Stable. Fitch has also affirmed long-term foreign-currency IDR at BBB- with a Stable outlook.

Ashok Leyland gained over 2 percent even after the company reported a 92.31 percent decline in Q4FY20 net profit at Rs 57.78 crore as against Rs 751.71 crore while revenue from operations fell to 5,088.04 crore from Rs 9,874.04 crore.

IRCTC fell 3 percent after the company said that its revenues and profitability are likely to be adversely impacted for the April-June quarter due to the lockdown. The company hopes that the business situation normalise during third and fourth quarter.

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(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)