The 30-share index Sensex rose considerably for the second successive session and was trading 192 points up as compared to its last closure with telecom major Bharti Airtel topping the pack. The Sensex, which belled the day at 17,667.85, was trading 192.05 points up at 17,843.78 as against its last closure at 17,651.73.

The top Sensex mover was Bharti Airtel, which surged more than 10% after global rating agency Credit Suisse lifted its appraisal to "outperform", citing improved environment.

Other telecom stocks like Reliance Communications and Ideal Cellular also climbed up after the agency changed its rating of the two companies to a higher level.

While RCom scrip, whose rating was raised to "neutral" rose 3.88 percent to touch an intra-day high of 195.25, Ideal Cellular soared 14.6 percent to Rs. 67.65. Idea saw its rating go up to "outperform".

At the National Stock Exchange (NSE), the broad-based Nifty stood at 5,352.8, up 1.06% as against its last closure at 5,296.85.

Broader markets also witnessed hefty buying. The BSE midcap index was trading 1.06% up and the BSE smallcap index 0.82% higher.

The overall market breadth was optimistic, with 1,799 scrips progressing as against 920 declining, and 87 remaining unchanged.

Other major Asian markets rose Friday, after stocks rallied in the US for a third day on Thursday after the number of jobless claims dropped, indicating that the American economy's revival was intact.

Bargain hunting and waning pessimism about a global economic recovery helped the Japanese Nikkei move 0.52% up at 9,585.32 points, whilst the South Korean Kospi ended 1.43% up at 1,723.01.

Hong Kong's Hang Seng was ruling at 20,341.61, up 1.45%, whereas the Chinese Shanghai Composite index was trading 2.56% up at 2,477 points, after two dull days.