Indian equity markets extended their winning streak on Friday, with the BSE Sensex sustaining its position above the 78,000 mark and the Nifty 50 trading above 24,300.

The broad-based rally was driven by renewed investor confidence following a softer-than-expected US jobs report, which bolstered risk appetite for emerging markets.

The BSE Sensex climbed 534.51 points, or 0.69%, to trade at 78,036.63 by midday.

The Nifty 50 mirrored the advance, rising 168.60 points, or 0.70%, to 24,344.30.

The gains mark a continuation of the momentum seen in the previous session, where benchmarks had already posted sharp gains amid falling crude oil prices.

The information technology sector emerged as the primary engine of the rally, extending a recovery that began after four days of heavy selling.