The Sensex and the Nifty opened higher on Friday after exit polls indicated BJP be a big winner in the Assembly elections. The Party is projected to win UP, Uttarakhand, Goa and Manipur.

The Sensex opened 76.87 points higher at 29,006, against the previous close of 28,929.13. At about 9.25 am, the Sensex was up 120 points or 0.41 per cent higher at 29,048.88.

Similarly, the NSE Nifty gained 26.70 points to 8,953.70 at open. At about 9.25 am, the Nifty was up 38.80 points or 0.43 per cent at 8,965.80.

Among the Sensex 30 stocks, Adani Ports (+1.35%), Hero MotoCorp (+0.98%), Wipro (+0.94%), TCS (+0.74%) and ICICI Bank (+0.71%) were the top gainers during the session.

PowerGrid (-0.85%), ONGC (-0.42%), GAIL (-0.61%) and Reliance (-0.24%) were among the stocks that declined on the Sensex.

All the major BSE indices were trading higher.

Among the sectoral indices, barring oil and gas and energy, all indices were trading higher. Telecom, IT, teck, consumer durables and capital goods gained by up to 0.83 per cent.

Global markets

Asian stocks edged up and the dollar rose to 1-1/2-month highs versus the yen on Friday, ahead of the closely-watched U.S. non-farm payrolls report due later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, taking cues from a modest bounce in Wall Street overnight.

US stocks: Thursday marked the eight-year anniversary of the current bull market, the second-longest ever. Some strategists expect it to continue with the help of stronger earnings, lower taxes and a corporate-friendly administration in Washington. The S&P 500's slight gain came after three straight days of losses. A frenetic post-election rally on bets of reduced regulation and tax cuts under President Donald Trump has been losing steam as investors fret over valuations and the possibility of the Federal Reserve raising rates more aggressively.