The stock markets on Friday surged smartly in the morning trade with the benchmark Sensex rising by 135 points at 1030 hours on strong global cues amid fears of a moderate rise in inflation rate.
The rally was partly attributed to easing global crude oil prices from its recent record close at $120 a barrel.
The Bombay Stock Exchange 30-share index was quoted at 16,856.19 at 1030 hours, a net rise of 135.11 points over its previous close of 16,721.08.
Meanwhile, the broader 50-share S&P CNX Nifty of the National Stock Exchange also gained 61.35 points at 5,061.20 at 1030 hours from its last close of 4,999.85.
Marketmen said the market surged on the first day of the derivatives May series, driven by firm global trend but any rise in inflation numbers is expected to trigger profit booking by investors at the weekend.