The benchmark indices traded high at noon on the bourses. The Sensex was trading 421.44 points higher in the afternoon session on Friday led by strong buying support in pharma and banking stocks.
The 30 stock S&P BSE Sensex was trading 0.73 per cent higher at 57,942.50 points at 1.30 PM against its previous day's close at 57,521.06 points.
Earlier, the Sensex opened in the positive at 57,817.51 points and surged to a high of 57,929.11 points. This is the second consecutive day of rally at the Indian stock markets. The Sensex had gained 701.67 points or 1.23 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange was trading 126.60 points or 0.73 percent higher at 17,371.65 points against its previous day's close at 17,245.05 points. The Nifty 50 had gained 206.65 points or 1.21 per cent on Thursday.
There was strong buying support in pharma and banking stocks. Sun Pharma jumped 2.29 percent to Rs 941.40. Dr Reddy's Laboratories surged 2.29 percent to Rs 4212.95.
HDFC Bank soared 2.11 percent to Rs 1400. Kotak Bank climbed 2.18 percent to Rs 1804. HDFC soared 2.14 per cent to Rs 2272.05. The index heavyweight Reliance Industries Limited was trading 0.74 percent higher at Rs 2840.
Only nine of the 30 scrips that are part of the benchmark Sensex were trading in the red. Axis Bank dipped 4.74 percent to Rs 742.80. Power Grid Corporation, Wipro, NTPC and ITC were among the major Sensex losers.