The Sensex and the Nifty traded higher on Friday, building on yesterday's sharp gains, but traders were not optimistic of a sustained rebound in markets.
Shares in metal companies continued to gain for a second day after a positive reading on China's manufacturing sector on Thursday. Jindal Steel and Power surged 4.6 per cent.
Reliance Industries rose 1.3 per cent after the company announced a new gas condensate discovery off the east coast of India in the Cauvery basin with British oil company BP Plc.
Blue chip shares such as ITC fell 0.9 per cent on fears of foreign selling unless rupee recovers meaningfully.
Traders continued to remain wary of foreign flows at a time when overseas investors who had been net buyers of Indian stocks in 2013 sold a net Rs 4,541 crore worth of shares in the five sessions through Thursday.
(With inputs from Reuters)
RECOMMENDED FOR YOU
POPULAR