Benchmark indices were trading higher during the afternoon on Friday, led by IT stocks.

Market opened on a positive note amid a positive trend in the global markets. It managed to extend gains in the first half, sustained by gains in heavyweights such as HDFC and Infosys. Auto and PSU Bank stocks dragged.

At 1 pm, the BSE Sensex was trading at 60,335.03, up 415.34 points or 0.69 per cent, near its intraday high of 60,356.20. It recorded an intraday low of 59,997.96. The Nifty 50 was trading at 17,999.45, up 125.85 points or 0.7 per cent. It recorded an intraday high of 18,005.35 and a low of 17,905.90.

The volatility index softened nearly 6 per cent to dip below 16. At 1 pm, the index was down 5.64 per cent to 15.43.

Concerns over US inflation and sustained foreign outflow owing to FII selling have kept the market momentum in check this weak.

Tech Mahindra, HDFC LIfe, Adani Ports, Infosys and Hindalco were the top gainers on the Nifty 50 while Bajaj Auto, Tata Steel, NTPC, Powergrid and IOC were the top laggards.

IT stocks in focus

On the sectoral front, while IT, realty, oil & gas and financial services gained, auto and PSU Bank faced pressure.

Nifty IT was up 1.55 per cent. Nifty Realty was up 0.69 per cent while Nifty Oil & Gas was up 0.65 per cent. Nifty Financial Services was up 0.55 per cent.

Meanwhile Nifty PSU Bank was down 0.55 per cent while Nifty Auto was down 0.28 per cent.

Broader indices

Broader indices recovered marginally to trade flat.

Nifty Midcap 50 was up 0.10 per cent at closing while Nifty Smallcap 50 was down 0.04 per cent. The S&P BSE Midcap was up 0.21 per cent while the S&P BSE Smallcap was up 0.06 per cent.

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