Benchmark indices opened the day strong in trade on the back of solid global cues. The Sensex was trading higher by 88 points, while the Nifty was up 23 points in trade.
Metal stocks were once again weak in trade with Hindalco and Tata Steel among the gainers. Losers from the Nifty included stocks like Cipla, Gail, Dr Reddy's and Coal India.
Shares in Nitesh Estates jumped 7 per cent after reports that Goldman Sachs would be jointly investing in the real estate business.
Gulf Oil was trading higher after reports that Promoter Hinduja Power had increased stake in Gulf Oil, through a 5 percent block deal.
IT stocks which saw some selling pressure on Thursday recovered lost ground in trade. Midcap stocks also saw some buying interest with Britannia and Amar Raja Industries among the gainers in trade. Cadilla Healthcare and Eicher motors were also among the gainers.
Meanwhile, markets across Asia were trading with gains including the Japanese Nikkei and the Shanghai Composite.