Benchmark indices opened the day higher with the Nifty and the Sensex seeing second day of gains on easing tensions in the Middle East.
The Sensex was up 303 points, while the Nifty was up 88 points in trade to a new record high of 12,308 points. Heavyweights like Reliance Industries and HDFC Bank, which contributed heavily to gains on Thursday were once again seeing buying interest.
Shares in oil marketing companies managed to gain ground, as oil prices continued to drop. Shares in Infosys was up nearly 1 per cent, ahead of the declaration of results. The company is set to declare its results later today. Most analysts expect the company to outperform, which is why the stock is up more than 1 per cent in trade today.
Yes Bank was trading higher ahead of fund raising plans. The stock has seen some momentum in the last few days on the proposed fund raising plans.
Meanwhile, most Asian markets were trading with gains as tensions in the Middle East eased.