The BSE Sensex is up around 200 points, while the Nifty has gained more than 50 points. Private banks continue to gain for a second day after banking stocks saw their biggest single-day gains in over 4 years on Thursday after the Reserve Bank of India raised overseas borrowing limits for lenders as part of a slew of measures unveiled by new Governor Raghuram Rajan.
ICICI Bank rises 4.6 percent, while IndusInd Bank is up 0.5 percent.
However, Sesa Goa Ltd falls as much as 5.9 per cent as the lock-in period related to its merger with Sterlite Industries (India) Ltd ended as of the close of trade on Thursday.
The BSE Sensex and the Nifty rose nearly 1 per cent at 12.17 pm.