The Sensex and Nifty are up around 1 per cent led by gains in stocks like ITC and L&T (Larsen & Toubro). Bank shares gained after underperforming the 50-share National Stock Exchange Nifty in recent days on concerns over provisioning against restructured assets.
ICICI Bank rose 1.8 per cent, and the State Bank of India was up 1.4 per cent.
The Indian market gains are in line with Asian shares that advanced with returning risk appetite on Friday as data suggested some stabilisation in the global recovery trend, particularly in the United States and China.
Copyright: Thomson Reuters 2012