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In the broader markets, smallcap index gained 0.5% in line with the BSE benchmark index while the midcaps lagged by 0.05%.
The rupee gained sharply, coming off lows since morning, at 59.33 versus Thursday close of 59.57/58. Dealers cite dollar inflows related to Essar Steel's $1 billion overseas borrowing.
In Asia, stocks hit a 9-1/2-month low on Friday and faced their worst week since May last year as investors continued to grapple with the U.S. Federal Reserve's plan to scale back stimulus, while credit markets showed signs of stabilizing.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.8%, after dipping 1.4% earlier to its lowest since September.
Japan's benchmark Nikkei stock average outshone the rest of the region, reversing an earlier decline of more than 2% to end up 1.7%, with a weaker yen against the dollar improving market sentiment.
In Europe, markets started on a positive note with the CAC, DAX and FTSE gaining 0.1-0.5% in opening trades.
Back home, among the sectoral indices, Metal was the only index in the red, losing nearly 0.2%. Meanwhile, Power, Oil & Gas, IT, Teck, Oil & Gas, Consumer Durables, Auto, Realty and PSU index gained 0.7-1.4%.
Shares of power generation and distribution companies have rallied on the bourses up to 5% after the Cabinet Committee on Economic Affairs (CCEA) today allowed power companies to pass on the cost of imported coal to customers.
Tata Power Company has surged nearly 5% at Rs 85 followed by Adani Power and JSW Energy 3% each at Rs 43 and Rs 47 respectively, while Reliance Power is up 2% at Rs 66.
The movers among the Sensex-30 were Hero MotoCorp, ONGC, Maruti Suzuki, BHEL, Bharti Airtel, Dr Reddys Lab, NTPC, Gail India, Coal India, TCS, Infosys and Mahindra & Mahindra gaining 1-2%.
The names in the red among the Sensex stocks were metal names like Jindal Steel, Hindalco and Tata Steel losing 0.2-6%. Sun Pharma, ICICI Bank, HDFC, Hindustan Unilever, ITC and Tata Motors down 0.1-1.7% were the other notable losers.
The market breadth was positive on BSE. 1,100 stocks advanced while 980 stocks declined.
