India shares edged higher on Friday, tracking gains in other Asian equities after the announcement of a new U.S. Federal Reserve chief.
Asian shares were mixed as investors assessed the latest news on U.S. tax-cut plans and looked ahead to Friday's American jobs report.
Apple suppliers gained in Asian trading after its forecast for holiday sales topped estimates, a likely positive for its many suppliers scattered across Asia.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.15 percent, to be just a whisker from its highest since late 2007. With Japan closed for a holiday, there may be little direction in Asian trading.
News that Federal Reserve Governor Jerome Powell would be the new head of the U.S. central bank was well flagged, but still something of a relief.
At 0540 GMT, the S&P BSE Sensex rose 0.22 percent at 33,647 while the broader NSE Nifty added 0.17 percent to 10,441.
Among the top Sensex gainers, Bharti Airtel advanced 2.3 percent, Cipla gained 2.1 percent, Axis Bank rose 1.8 percent, ONGC was up 1.3 percent while Larsen and Toubro added 1.2 percent.
Bharati Airtel rose 3.2 percent after a block deal.
GE T&D India surged 15 percent after the company reported a 131 percent jump in its net profit for the September quarter.
Hindalco Industries gained 2.3 percent after its arm Novalis posted strong earnings.
Hathway Cable & Datacom hits 20 percent upper circuit after the company swung to a profit in September quarter.
Among the laggards, Andhra Bank fell 4 percent after the lender swung to a loss in September quarter.
Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.