Equity benchmarks extended previous day's gains in opening, with the Nifty reclaiming 10,100 level and inching towards its record high level.
The rally was driven by Reliance Industries and Bharti Airtel.
The 30-share BSE Sensex was up 113.08 points at 32,295.30 and the 50-share NSE Nifty rose 31.40 points to 10,127.80.
Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.
Reliance Industries gained a percent ahead of second quarter earnings later today.
Shriram EPC rallied 15 percent post bagging of multiple orders.
Bharat Financial and IndusInd Bank gained 0.4 percent each ahead of IndusInd's board meeting on Saturday.
Nifty Midcap was up 0.3 percent as about three shares advanced for every share falling on the NSE.
BHEL, EON Electric, LEEL Electricals, Indian Toners, Aimco Pesticides, Indo Count, Teamlease, NBCC, Adani Transmission, Cyient, MCX (ahead of Q2 earnings later today), Manappuram Finance and DHFL gained 1-10 percent.
The Indian rupee started off last day of the week at Rs 64.95 against the US dollar, continuing the appreciation further.
It gained 13 paise compared with previous closing value of 65.08 per dollar.
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