The Indian markets rose over half a per cent on Friday, mirroring the firm trend in their Asian peers, while volatility index, India VIX, dipped 4 per cent to below 20 levels.

The S&P BSE Sensex jumped 277 points, or 0.72 per cent, to 38,500 levels, and the Nifty50 index hovered around the 11,400-mark. PowerGrid (up 3%), NTPC and SBI (both up 2%) were the top Sensex gainers.

Among other individual stocks, GMM Pfaudler surged over 8 per cent in early deals after it said it has acquired a 54 per cent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million.

The trend among Nifty sectoral indices was positive, led by Nifty PSU Bank index, up 1.6 per cent.

Meanwhile, the broader markets kept up their outperformance, with the S&P BSE MidCap and SmallCap indexes both trading over 1 per cent higher.

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