Equity benchmark indices were trading higher in the afternoon session on Friday as the rally was led by Reliance Industries, HDFC, ICICI Bank and Tata Steel. L&T, Axis Bank, Bajaj Finance and HDFC Bank stocks were under pressure on the Sensex pack. The stock markets bounced back from fresh intraday lows in morning trade.
The Sensex climbed 152 points to 38,975 and the Nifty50 rose 45 points to 11,627.
Among the 50 components in the Nifty index, 36 shares were trading in the green, while 14 were in the red.
India VIX is down 3.58% at 12.02 levels.
The most active stocks with respect to volumes are PFC, IndiGo, Bajaj Finance and Reliance Industries.
The Nifty Metal was up over 1.5% led by Jindal Steel & Power, Tata Steel, Hindalco Industries, NALCO, SAIL, NMDC and JSW Steel.
From the midcap space, the top gainers are JSPL, Max Financial Services, Adani Power, Sun TV Network, Emami and Apollo Hospitals while the top losers are DHFL, Tata Communications and GSK Consumer.
Shares of Eris Lifesciences, Empee Distilieries, Ballarpur Industries, Century Plyboards, Deepak Fertilizers, Lumax Auto Tech and M M Forging hit a 52-week low on the BSE.
The Indian rupee is trading lower by 11 paise at 68.56 against the dollar ahead of the release of retail inflation and factory output data.
On the global front, Federal Reserve Chairman Jerome Powell, has indicated that the central bank is prepared to cut interest rates to support the economy. Uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the US economic outlook, Powell said in his opening comments to the Senate Banking Committee on Thursday.