The 30-share Sensex was up 102 points at 29,197 and the 50-share Nifty was up 26 points at 8,830.
Benchmark indices have opened higher, amid firm global cues led by the gains in finacials and metal stocks.
Traders will watch for the WPI data for the month of January to be released later today.
At 9:16AM, the 30-share Sensex was up 102 points at 29,197 and the 50-share Nifty was up 26 points at 8,830.
Meanwhile, foreign institutional investors bought equities worth Rs 390 crore on Friday, as per provisional stock exchange data.
Asian markets were trading marginally higher tracking a rally on Wall Street on Friday even as investors remained cautious over the European Union’s debt deal with Greeece this week.
Further, data showed that Japanese economy grew 0.6% in the fourth quarter of 2014, which was lower than market expectations.
The Nikkei was up 0.7% at 18,030 while the Hang Seng was up 0.2% at 24,737 while Straits Times and Shanghai Composite were trading with marginal losses.
US stocks ended higher on Friday on the back of encouraging corporate earnings while stablity in global crude oil prices also improved investor sentiment.
Meanwhile, investors will also watch out for fourth quarter earnings from global retail giant Wal-Mart this week.
The Dow Jones industrial average ended up 47 points at 18,019, while the broader S&P 500 gained nearly 9 points at 2,096.99 and Nasdaq ended up 36 points at 4,893.84.
European shares also ended higher on the back of encouraging data from Germany. The German economy rose 0.7% in the fourth quarter of 2014, which was higher-than-expected.
The FTSE 100 ended up 45 points at 6,873.52, DAX also hit a record high to end 44 points higher at 10,963.40 while CAC 40 ended up 33 points at 4,759.36.