The Indian equity benchmark indices opened higher on Friday led by buying across the board. At 9:15 am, the Sensex opened 0.07 percent, or 33.95 points, higher at 47,785.28, while the Nifty50 index opened at 13,996.10, up 14.35 points, or 0.10 percent.

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Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 indices up 0.5 percent each.

Among sectoral indices, the Nifty PSU Bank rallied the most, over 1 percent, followed by Nifty Auto, Nifty IT and Nifty Media.

Mahindra & Mahindra, UPL, Tata Motors, ONGC and TCS were the Nifty50 top gainers, while Titan Company, Hindalco, Nestle India, PowerGrid Corporation and HDFC were the top index losers.

Mahindra & Mahindra shares gained over 2 percent after the company called off its automotive joint venture with Ford Motor Company due to the challenges caused by the COVID-19 pandemic.

IDBI Bank shares gained over 1 percent after it completed the sale of its 23 percent stake in IDBI Federal Life Insurance, to Ageas for Rs 507.10 crore.

Globally, Wall Street advanced on Thursday and the dollar gained ground as investors closed the book on a turbulent year of pandemic, recession and recovery, a Reuters report said.

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