Buying in financial counters such as HDFC Bank, Bajaj Finance, and Bajaj Finserv helped benchmark indices settle over 0.6 per cent higher on Friday.
The S&P BSE Sensex ended at 43,882, up 282 points, or 0.65 per cent while NSE's Nifty ended at 12,859, up 87 points, or 0.68 per cent.
Bajaj Finserv ended as the biggest gainer on Sensex - up over 9 per cent to Rs 8,536.50 while Reliance Industries (down nearly 4 per cent) was the top loser. Of 30 constituents, 23 advanced and 7 declined.
On a weekly basis, Sensex gained 0.5 per cent while Nifty added 0.68 per cent.
In the broader market, the S&P BSE MidCap ended 1.22 per cent higher at 16,436.50 levels while the S&P BSE SmallCap index gained 0.77 per cent to 16,183 levels.
Among buzzing stocks, shares of Bharti Infratel jumped nearly 18 per cent to Rs 218.5 after the company completed a merger with Indus Towers to create a mega tower company.
Shares of Nestle India gained over 3 per cent to Rs 17,470 on the expectation of higher growth by the company going forward.
Now, let's take a look at the global markets.
World financial markets stalled on Friday as news US Treasury was ending emergency loan programmes dealt a blow to economic recovery hopes just as California announced curfews to try and fight surging coronavirus infections.
In Europe, stocks edged higher as gains in retail and oil shares offset worries about US politics and a stalemate over fresh stimulus measures to support a pandemic-stricken global economy.
In commodities, oil prices were little changed while gold prices were set for a second straight weekly fall as the metal’s appeal came under pressure from promising Covid-19 vaccine trials and news of the US Treasury ending emergency loan programs.