Market extends gains, Nifty above 10,900; Prabhat Dairy up 20%, Indiabulls Housing falls 7%

Indian shares extended gains in the afternoon trade session on Friday, led by gains in Tech Mahindra, Axis Bank and Kotak Mahindra Bank.

Asia stocks gained, joining a global trend as investors took heart from firm U.S. economic data plans hopes a meeting between U.S. and Chinese negotiators next month signals an easing in trade tensions.

At 12:11 pm, the 30-share benchmark index Sensex was trading higher by 231.48 points, or 0.64 percent, at 36,875.37 and the NSE Nifty50 was also in the green, trading higher by 62.90 points, or 0.58 percent at 10,910.65.

The Nifty Realty index remained the worst performer in the afternoon session followed by the Nifty Pharma and Nifty FMCG, while Nifty Private Bank was the best performer followed by Nifty Bank and Nifty Media.

Tech Mahindra, Axis Bank, NTPC, Kotak Mahindra Bank and Maruti Suzuki were the top-gainers while Indiabulls Housing Finance, Sun Pharma, Wipro, GAIL and JSW Steel were the top-laggards.

Prabhat Dairy stock was frozen in the upper circuit band of 20 percent at Rs 78.45 on Friday after the company's board decided to voluntary delist the equity shares from the bourses.

Indiabulls Housing Finance hit a 52-week low, falling over 7 percent, after reports claimed a public interest litigation (PIL) was filed against the company and its promoters in Delhi High Court on allegation of siphoning off funds.