NEW DELHI: Benchmark indices opened on a firm note on Friday ahead of the kick start of two-day G20 summit in Buenos Aires.
Asian markets were mostly up half-a-per cent.
Domestic stocks followed the suit.At 9.21 am, the BSE Sensex was trading 158 points, or 0.44per cent, higher at 36328.83.
The NSE barometer rose 25.05 points, or 0.23 per cent, to 10,883.75.
Both the indices settled higher in the previous four sessions.We continue to remain upbeat and expect the recent rally to extend immediately towards 10,920 11,000 range.
Thursdays gap area of 10,782-10,757 is likely to act as a key support zone now, said Sameet Chavan of Angel Broking.
Among Sensex stocks, YES Bank surged 5.27 per cent to Rs 168.90.
The stock rose amid reports that Managing Director and CEO Rana Kapoor is unlikely to be in the fray for the post of chairman which fell vacant following the resignation of Ashok Chawla earlier this month, sources said Thursday.Mahindra Mahindra, Bharti Airtel, ONGC and Infosys gained 1.66 per cent, 1.60 per cent, 1.5 per cent and 1.14 per cent, respectively.
Tata Motors fell 2.57 per cent to Rs 172.75.
Adani Ports, HDFC Bank and Tata Steel fell up to 1.3 per cent.Data showed Nifty futures rollover stood at 72 per cent, which were higher than the average rollovers of 69 per cent seen in the last three series.
Market-wide rollovers also jumped to 82 per cent against 81 per cent average rollovers in the previous three series.
Dip in Nifty futures open interest by 12 per cent has been indicative of short coverings, Edelweiss Securities said in a note.Shares of Repco Home Finance dropped 2.97 per cent to Rs 332.20 after value investor Mohnish Pabrais fund sold 9.5 lakh shares of Repco Home Finance on Thursday via a bulk deal.
The Pabrai Investment Fund IV LP sold 3.85 lakh shares at Rs 335.59 per share, the data on the BSE showed.State Bank of India (SBI) advanced 0.96 per cent to Rs 289 per cent after the country's largest lender approved sale of 4 per cent stake in SBI General Insurance for Rs 482 crore to two alternative investment funds (AIFs).