The benchmark equity indices Sensex and Nifty traded higher on Friday, buoyed by strong FII buying.
At around 10 a.m., the Sensex was up 616 points or 0.78 percent at 79,926.01, while the broader Nifty was at 24,662.50, up 125.90 points or 0.51 percent.
1) FII buying: Foreign investors bought a net $1.6 billion of Indian stocks on Thursday, their biggest daily purchase in nearly six years, as falling oil prices and a retreat from AI-linked shares boosted India's appeal.
2) Brent heads for biggest weekly fall since April 2020: Crude oil prices rose on Friday, extending their recovery from the sharp selloff earlier in the week, although Brent remained on course for its biggest weekly decline in more than six years. Brent crude for January settlement gained 1 percent to $99.27 a barrel, while West Texas Intermediate for December delivery rose 0.9 percent to $91.29 a barrel.
3) Buying in IT shares: IT index was among the top sectoral gainers, gaining 1.5 percent.