Mumbai: The Sensex gains 0.73 per cent, while the Nifty is trading 0.61 per cent higher, inching closer to record highs hit on May 16.
Upstream oil and gas companies lead the gains, with Oil and Natural Gas Corp rising 3.5 per cent and Reliance Industries Ltd advancing 2.7 per cent. Among other blue-chips, State Bank of India gains 1.25 per cent.
However, shares in Infosys Ltd fell after a senior executive quit the company.
Asian markets turned mixed on Friday as investors offered only polite applause for the European Central Bank's latest stimulus package, while the euro went off-script in a vicious short-covering rally.
Also, foreign portfolio investors bought Indian shares worth 13.69 billion rupees ($230.8 million) on Thursday, provisional exchange data showed.
