The benchmark index of Bombay Stock Exchange (BSE) moved up 238.59 points at 37,565.95 in the initial trading hours on Friday.
Nifty of National Stock Exchange also rose 73.10 points at 11,105.55.
Sectoral indices such as banking and energy stocks led the gain on the reports that the government is likely to roll back higher surcharge on foreign portfolio investors(FPI). Major gainers are HDFC bank, HDFC, Reliance and ICICI bank. Major losers are Yes Bank, IOC and Bharati Airtel.