Sun Pharma and Tata Steel are the top gainers on both indices, while Asian Paints, M&M, GAIL and Eicher Motors lost the most.

Shares have extended their gains from the opening bell, with the Sensex trading around 150 points higher, while the Nifty is comfortably trading above 10,400.

The Sensex is up 147.45 points or 0.44% at 33966.95, and the Nifty up 40.70 points or 0.39% at 10423.40. The market breadth is positive as 1412 shares have advanced, 483 shares declined, and 140 shares are unchanged.

Sun Pharma and Tata Steel are the top gainers on both indices, while Asian Paints, M&M, GAIL and Eicher Motors lost the most.

Ministry of Commerce has recommended anti-dumping duty on import of dimethylacetamide. This is a product that Balaji Amines manufactures.

9:40 am Federal Bank gains: Shares of Federal Bank gained 4.5 percent in the early trade on Friday as the company is going to acquire stake in Equirus Capital.

The board of directors of the bank has approved acquisition of significant minority stake of up to 26 percent of the paid-up share capital of Equirus Capital, a financial services company.

The said acquisition is subject to statutory and regulatory approvals and satisfactory completion of the financial and legal due diligence.

9:25 am Rupee Update: The Indian rupee opened higher by 9 paise at 64.95 per dollar on Friday versus previous close 65.04.

Bhaskar Panda of HDFC Bank said, “Worries of US rate hike, consequent rally in US yields, coupled with uncertainties due to the PNB episode has brought back pressure on the INR.”

“The USD-INR pair has broken through crucial 64.80 levels and traded above 65 yesterday. Today, I expect the pair to consolidate in a range of 64.85-65.15 given the dollar fall overnight.”

9:15 am Market Opens: Equities have begun the day on a positive note, with the Nifty clocking 10,400 in the first few minutes of the trade.

The Sensex is up 98.71 points or 0.29% at 33918.21, and the Nifty is up 36.40 points or 0.35% at 10419.10. The market breadth is positive as 554 shares have advanced, 216 shares declined, while 94 shares are unchanged.

All sectoral indices have commenced trade in the green, while, in the broader market, midcaps are up around half a percent.

source: moneycontrol.com