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On an intraday basis, Sensex swung 1,283 points and the Nifty fluctuated 383 points.
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Bajaj Finserv is quoting at Rs 10,120, up 1.29% on the day as on 12:49 IST on the NSE.
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Dixon Technologies jumped 3.19% to Rs 20,725.80, rising for the third consecutive trading session.
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In the grey market, shares were quoting at a premium of Rs 655 or 59% above its price band which is fixed at Rs 1,100-1,101 per share.
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Grey Market is an unofficial market for IPOs. It is an over-the-counter market where IPO applications and IPO shares are traded before they get listed on stock exchanges.
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The small finance bank has fixed a price band of Rs 303-305 per share. Investors can bid for a minimum of 49 equity shares and in multiples, thereafter.
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Shares of Vodafone Idea traded higher on Friday after the company on Wednesday announced the bundling of Disney+Hotstar VIP access for 1 year
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Gold futures edged higher sharply after breaking above $1700 per ounce but flipped back after hitting one week high near $1740 per ounce as soaring equities capped upside.
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Ahead of the IPO, the shares were quoting at a premium of Rs 7.5 or close to 9% in the grey market.
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The Rs 760-crore initial public offering (IPO) of speciality chemical company Anupam Rasayan got subscribed 34% on the first day on Friday.