The Indian equity benchmarks staged a gap up opening on Friday on the back of strong global cues ahead of presentation of the Economic Survey by Chief Economic Adviser (CEA) Krishnamurthy Subramanian. The Sensex rose over 500 points while the Nifty 50 index touched an intraday high of 13,954.45. Reliance Industries, HDFC Bank, ICICI Bank, HDFC and Kotak Mahindra Bank were among the top movers in the Sensex.
As of 9:19 am, the Sensex rose 376 points to 47,250 and Nifty 50 index climbed 119 points to 13,936.
Asian stock markets recovered on Friday but are headed for their steepest weekly loss in months, as a liquidity squeeze in China and a Wall Street retail-trading frenzy has unnerved investors.