NEW DELHI: Gains in most Asian peers infused positivity back home as domestic equity benchmarks Sensex and Nifty kicked off Friday's session on a firm note.Other than Nikkei, that traded with a loss of 3 per cent in wake of a strong selloff in US stocks, China's SSE Composite Index and Hong Kong's Hang Seng climbed up to 2 per cent on a fresh spell of buying in most sectors.
US stocks fell after a new data showed signs of major slowdown in world's largest economy.
The Institute for Supply Management's December data released on Thursday signalled broadest US slowdown in growth in more than a decade.
However, media reports suggested that US and China may hold vice-ministerial level talks next week on their trade dispute which lifted Chinese stocks.
Softer crude oil prices and stronger rupee, too, influenced sentiment.
The benchmark Sensex surged over 190 points in early deals, while Nifty index hovered near 10,730.However, both pared some gains on selling in heavyweights such as ICICI Bank, TCS and Reliance Industries.
Around 9:30 am, BSE Sensex was 99 points, or 0.28 per cent, up at 35,612, while Nifty was 37 points, or 0.35 per cent, up at 10,709.
The BSE Midcap and Smallcap indices were 0.44 per cent and 0.22 per cent up, respectively, around that time.Barring energy, IT and consumer durables, all sectoral indices were trading with gains on BSE.
The BSE Telecom jumped nearly 2 per cent, leading pack of sectoral gainers, backed by healthy buying in shares of Bharti Infratel, Bharti Airtel, Vodafone Idea and Tata Communications.In Sensex kitty, Tata Motors, Bharti Airtel, NTPC, Axis Bank and ITC were leading pack of gainers.
ICICI Bank, HCL Tech, Reliance Industries, TCS and Sun Pharma were losers in Sensex index.
Shares of Sun Pharma slipped after drug major on Thursday said it had completed acquisition of Japan-based Pola Pharma to strengthen its presence in dermatology segment across globe.