The Indian stocks advanced around noon on Friday, led by buying in financials, consumer and pharma sector. Weakness in the broader markets and metal, IT and realty sectors, however, continued to weigh on frontline indexes.
Benchmark indexes recouped losses seen in early hours of trade with the BSE Sensex rising over 194 points to trade at 36,518.44 at 11.50 am. The NSE Nifty50 also surged past the 11,000 mark, trading at 11,023, higher by 45.45 points.
Broader markets continued to underperform. The BSE MidCap traded below flatline, while smallcap traded lower by over a percent. Infibeam shares crashed by 52 percent ahead of the internet and ecommerce company's AGM on Saturday.
Sectoral indices traded mixed, recovering from initial losses. Nifty Bank and Fin Service, surged by 1.19 and 1.38 percent, respectively, while FMCG and pharma also supported with gains by up to 0.47 percent. Nifty PSU Bank surged over 2 percent, while PVT Bank traded below a percent.
Nifty Metal has dipped nearly 3 percent, while realty declined by 1.63 percent.
Among gainers, SBI, Wipro, HPCL, HDFC, Lupin, IndusInd Bank, Asian Paints surged by up to 2.56 percent.
Yes Bank continued to trade sharply lower by over 7 percent, while Tata Steel, Vedanta, Bharti Airtel, Hero MotoCorp, dipped by up to 3.49 percent.
The Indian rupee traded at 72.57 against the US dollar, after opening at 72.49 on Friday.
Also, catch all the action and updates in our Market Live blog