Top sectoral gainers and losers on NSE
That apart, market will also closely watch the outcome of OPEC-Russia meet, which is expected to come later in the day.
The S&P BSE Sensex climbed 361 points or 1.02 per cent to settle at 35,673 while NSE's Nifty50 index added 93 points or 0.87 per cent to end at 10,694.
Among sectoral indices, the Nifty Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Nifty Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.
In the broader markets, the S&P BSE MidCap index rose 0.2 per cent to end at 14,717, while the S&P BSE SmallCap index slipped 0.3 per cent to 14,105.
On the political front, market participants are awaiting exit poll results of five state elections due after market hours today. The result of the assembly elections will likely set the tone for the general elections next year.
The rupee traded on a firm note during the day rising to 70.45 against the US dollar amid fall in oil prices ahead of the crucial OPEC meet outcome. The domestic unit on Thursday closed at 70.90.
Stocks that made news
Among key stocks, the shares of HCL Technologies fell 5 per cent to Rs 962 on BSE after the company said it will acquire select IBM software products for $1.8 billion (approximately Rs 127 billion) in an all-cash deal.
Shares of Power Finance Corporation (PFC) fell as much as 4.76 per cent on the BSE in intra-day session after the Cabinet Committee on Economic Affairs (CCEA) Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63 per cent holding in REC to PFC, along with transfer of management control. However, the stock pared losses later in the day to end flat at Rs 89.80, down just 0.5 per cent.