Markets increase as banking gains

Financial stocks led indices higher early on Friday, putting blue-chip indices on track for first week of gains in three . ONGC, an oil explorer, climbed to 4.6 percent after reporting a new oil discovery in Colombia .

BENGALURU: Financial stocks led indices higher early on Friday, putting the blue-chip indices on track for their first week of gains in three, as a drop in commodity prices eased inflation worries.As of 0359 GMT, the NSE Nifty 50 index increased 0.87% to 15,691.3, while the S&P BSE Sensex increased 0.84% to 52,705.45.The blue-chip indices are expected to see weekly increases of more than 2.8 percent if the momentum holds.The Nifty Bank index rose as much as 1.7 percent, led by a 3.7 percent increase in private-sector lender IndusInd Bank.