Sensex rises 500 points as financials rebound; SBI results awaited

Benchmark indices started off Friday's session on a strong note as financial stocks rebounded. Investors are also awaiting quarterly earnings results from the State Bank of India.

Indian shares rose on Friday, helped by a rebound in financial stocks, as investors awaited quarterly earnings results from State Bank of India, the country's largest lender by assets. The blue-chip NSE Nifty 50 index climbed 0.55% to 14,987.85 by 9:25 am, while the benchmark S&P BSE Sensex rose 0.57% to 49,845.78. Investor sentiment was also helped by a rise in broader Asian markets, following overnight gains on Wall Street as fears receded about inflation and an early tapering of stimulus by the U.S. Federal Reserve.