Indian markets continued to rally for the second day on Friday. At 11.53 a.m, the Sensex was trading up 118.54 points or 0.40% at 29,450.70 with 18 components gaining. Meanwhile, the Nifty was trading higher by 32.05 points or 0.35% at 9,118.35 with 30 components gaining.

Major gainers in the 30-share index were ICICI Bank (2.88%), State Bank Of India (1.94%), ITC (1.44%), Bharti Airtel (1.08%), GAIL (India) (0.74%), and Axis Bank (0.73%).

On the other hand, Bajaj Auto (0.70%), Tata Consultancy Services (0.69%), Adani Ports and Special Economic Zone (0.62%), Infosys (0.54%), Cipla (0.49%), and Oil & Natural Gas Corporation (0.36%) were the biggest losers in the Sensex.

Market breadth was negative with 1,349 advances against 944 declines.

Reliance Power topped the value chart on the BSE with a turnover of Rs. 2,919.11 million. It was followed by Balkrishna Industries (Rs. 2,691.37 million), Indiabulls Housing Finance (Rs. 1,975.07 million) and SREI Infrastructure Finance (Rs. 1,168.68 million).

The volume chart was led by Reliance Power with trades of over 60.31 million shares. It was followed by SREI Infrastructure Finance (13.35 million), Spicejet (7.76 million) and Pressman Advertising (5.60 million).