MUMBAI: Stocks opened on a higher note Friday as sentiment turned better across global equities on the back of strong earnings declaration. Realty and banking stocks were in demand while the technology pack edged lower. Stocks in the midcap and smallcap space were in focus.

National Stock Exchange’s Nifty was trading at 5274.65, higher by 0.39 per cent or 20.5 points from the previous close. The index moved to a high of 5286.95 after opening at 5254.20.

Bombay Stock Exchange’s Sensex rose 83.92 points or 0.48 per cent to 17,587.39. The index touched a high of 17,603.02 in early trade.

“The markets showed good recovery after yesterday's fall and ended well above the 5250 mark. Markets are expected to consolidate further in the range of 5150 and 5350 in the absence of any fresh trigger. Fresh positive momentum can be seen only if nifty holds 5350 level. Nifty failed to close above its 5 and 20 day moving average of 5280 and 5293 which signifies existence of weakness in the market. The long term trend of the market is positive and any dip around 5150/5100 level can be considered as a good buying opportunity. For today, support for Nifty is seen in the range of 5,180 – 5,150 and resistance at 5,280 levels,” said Nirmal Bang Securities.

US stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal, easing fears about a wider sovereign debt crisis.

The Dow Jones Industrial Average gained 122.05 points, or 1.10 per cent, to 11,167.32. The Standard & Poor's 500 Index rose 15.42 points, or 1.29 per cent, to 1,206.78. The Nasdaq Composite Index added 40.19 points, or 1.63 per cent, to 2,511.92.

Asian counters rose for the first time after four straight sessions of losses Friday as a host of earnings declaration signaled hopes of a recovery. The Nikkei climbed 1.49 per cent, Topix advanced 1.3 per cent and Straits Times advanced 0.77 per cent.