The BSE Sensex is up 0.68 percent, while the 50-share Nifty gains 0.72 percent, heading for their biggest weekly gain since the week ended December 1, 2012 after three previous consecutive days of gains.

The gains in global stocks underpinning risk sentiment, although U.S. monthly jobs data later in the day may be the key.

Expectations that the RBI will cut rates later this month boosting banks:HDFC Bank (HDBK.NS) is up 1 percent, while ICICI Bank(ICBK.NS) gains 1.2 percent at 11:06 a.m.

Technology shares fall on profit-taking: Infosys (INFY.NS) shares are down 1.4 percent after rising on Thursday to its highest since April 13, 2011 while Tata Consultancy Services (TCS.NS) declines 0.3 percent after touching a record high on Thursday.