The Indian stock market ended over 2 per cent higher on Friday due to across-the-board buying.
The S&P BSE Sensex ended 835 points, or 2.28 per cent higher at 37,389 levels with all the 30 constituents ending in the green. Bajaj Finserv (up 6.6 per cent) was the top gainer on the index, followed by HCL Tech (up over 5 per cent), and Bharti Airtel (up 5 per cent).
NSE's Nifty, meanwhile, reclaimed the crucial 11,000 level to settle at 11,050, up 245 points, or 2.26 per cent. India VIX dropped nearly 12 per cent to 20.76 levels.
On a weekly basis, both Sensex and Nifty declined nearly 4 per cent.
All the Nifty sectoral indices ended in the green, led by Nifty IT and FMCG indexes, both up nearly 3.5 per cent, each.
In the broader market, the S&P BSE MidCap index gained around 3 per cent to 14,337 levels while the S&P BSE SmallCap index added 2.31 per cent to 14,496 levels.
IT stocks rallied in the trade post Accenture's Q4FY20 earnings. While the company missed estimates for fourth-quarter sales and projected current-quarter revenue below Wall Street expectations, strong traction in the outsourcing business, strong order bookings, and encouraging management commentary were the key positives from the industry's standpoint. Nifty IT ended nearly 3.5 per cent higher at 19,629 levels.
GMR Infrastructure gained over 11 per cent to Rs 23.55 on the BSE after the company said the GMR Group would divest its entire 51 per cent stake in Kakinada SEZ to reduce debt.
Shares of Granules India ended over 4 per cent higher at Rs 376 on the BSE after US health regulator USFDA gave its approval for Naproxen Sodium and Diphenhydramine Hydrochloride Tablets, 220 mg/25 mg (OTC)