The Indian market traded higher in early trade on Friday, tracking largely positive Asian cues. The Sensex surged nearly 197 points to trade at 35,509 at 9.16 am, while the Nifty was trading higher by 50 points, at 10,651.
Broader markets traded higher tracking frontline peers with the Nifty MidCap up by more than half a percent. The BSE MidCap also gained 0.47 percent.
Shares of downstream public sector companies - BPCL, HPCL and IOC - were up by up to 1.5 percent. Asian Paints, Cipla, Bajaj Finance and Bajaj Finserv also surged nearly a percent.
Among losers, HCL Technologies dipped nearly 4 percent despite the company announcing that it will buy some software products of IBM for $1.8 billion in all-cash deal. The deal is expected to be completed by mid-2019.
The rupee opened stronger at 70.55 against the US dollar, recovering 35 paise from Thursday's close of 70.90. Meanwhile, benchmark indexes looked set for higher opening.
Asian markets were up with Japan's Nikkei trading higher by more than 100 points. Hong Kong's Hang Seng also edged up by 0.24 percent. South Korea's Kospi was also marginally up.
First Published: IST