Mumbai (Agencies): The BSE benchmarks Sensex climbed almost 120 points in opening trade on Friday on continued bargain buying at lower levels, with the trading sentiment encouraged by easing food inflation.

The Sensex, which has gained nearly 1,045 points in the past five sessions, shot up by 119.85 points, or 0.65 per cent, to 18,626.67 on Friday. Capital goods, oil and gas and banking stocks led the rally.

Similarly, the broad-based National Stock Exchange Nifty index rose 29.60 points, or 0.60 per cent, to 5,576.05 points.

Brokers pointed the drop in food inflation coupled with the availability of several stocks at attractive levels provided much needed boost to the market.

In addition, covering-up of pending short positions by speculators also supported the rally in the market, they said.

In the Asian region, Hong Kong's Hang Seng index was up by 0.48 per cent, while Japan's Nikkei index remained almostflat in early trade on Friday.

The US Dow Jones Industrial Average ended 0.24 per cent higher in Thursday's trade.