Benchmark indices opened the day higher, after a solid 1000 points rally in the Sensex in two consecutive days on Wednesday and Thursday.
Leading the set of gainers from the Nifty and the Sensex were stocks like Sun Pharma and Lupin.
Sun Pharmaceutical Industries gained after reports that the umbrella pact and transaction agreements signed with Daiichi Sankyo and its overseas subsidiaries had been terminated due to divestment of Ranbaxy.
State Bank of India was up 2 per cent in trade, ahead of its results to be declared later today. The bank is expected to post a 50 per cent decline in net profits, though much of that maybe factored in the share price.
Bharat Petroleum was the top gainer from the Nifty jumping 6 per cent in trade, after a superb set of quarterly numbers.
Jet Airways gained after the airline posted its first profits in 8 years, thanks to sharp drop in crude prices.
Shares in Hotel Leela dropped after the company reported a drop in its net profits.
Fortis Healthcare was down after the company reported a net loss 90.86 crores. The stock dipped more than 3 per cent in trade.
Meanwhile, the rupee opened trade sharply higher at Rs 67.02 against the UD dollar.