Benchmark indices extended gains on Friday with the benchmark BSE Sensex trading 300.81 points or 1.40% higher at 21,814.68 points, while the NSE's Nifty was trading 93.60 points or 1.46% higher at 6,494.75 points at 11.30am IST.
Experts feel markets are likely to benefit further from the narrowing current account deficit. "Optimism of shrinking current-account deficit is likely to boost the rupee and prompt foreign investors investments further," Standard Chartered said in its morning note.
Among sectoral indices, the BSE Bankex (5.85%), BSE Capital Goods (4.61%) and BSE Realty (2.72%) were the major gainers. Among individual stocks, ICICI Bank (7.83%), Axis Bank (6.96%) and Larsen & Toubro (6.39%) were the major gainers on the 30-share Sensex.
Meanwhile, Asian indices were showing a mixed trend. The Nikkei (0.99%), Hang Seng (0.18%), Straits Times (0.26%), Jakarta Composite (0.19%) were trading in the green. Kospi (-0.10%) and Taiwan Taiex (-0.10%) were trading in the red.