Frontline indices began on a positive note, with the Nifty opening above 10,350-mark. Midcap index was trading at a record high, but at par with the benchmarks.
The Sensex was up 70.74 points at 33658.82, while the Nifty is up 23.00 points at 10371.80. The market breadth was positive as 641 shares advanced, against a decline of 227 shares, while 33 shares were unchanged.
Bajaj Auto, Cipla and Bharti Infratel gained the most on both indices, while HUL, Asian Paints, Zee Entertainment and HPCL were the top losers.
The Indian rupee opened flat at 64.58 per dollar on Friday versus previous close 64.58.
Bhaskar Panda of HDFC Bank said, "The dollar had lost some sheen yesterday after FOMC minutes cautious about inflation. In Indian markets, the rupee gained on the hopes of a favourable S&P decision after Moody's upgraded India ratings."
"Expect USD-INR pair to trade within a range of 64.50-64.70 today with a further appreciation bias."
Asian markets were mixed, following a relatively quiet overnight trading session as U.S. markets had been closed for the Thanksgiving holiday. Investors also kept an eye on Chinese markets, which bounced back after taking a tumble in the last session.
Japan's Nikkei 225 was lower by 0.47 percent as markets reopened for trade after a day off. Losses were seen in trading houses, banks, manufacturing and retail names. Technology stocks were a mixed picture: Nintendo rose 1.98 percent, SoftBank Group edged up 0.46 percent and Sharp was down 0.98 percent.
In the US, The Nasdaq composite eked out a record close on Wednesday, led by gains in Amazon. The tech-heavy index closed 0.1 percent higher at 6,867.36 as Amazon gained more than 1 percent. Amazon shares rose after CNBC reported the company's cloud business is about to announce a huge health-care deal with Cerner, one of the largest health technology companies in the world. The S&P 500 and Dow Jones industrial average, meanwhile, finished lower after Federal Reserve expresses concern about the impact of the market's sharp rise on the economy in a summary of its previous meeting.
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