Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent.
The Sensex soared 428 points to close above the 41,000-mark on Friday as the US and China reportedly reaching a trade deal and Boris Johnson's win in UK general elections turbocharged global equity sentiment.
After hitting a high of 41,055.80 points, the 30-share BSE Sensex ended 428 points, or 1.05 per cent, higher at 41,009.71.
Similarly, the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70.
On a weekly basis, Sensex advanced 564.56 points or 1.39 per cent and Nifty rose 165.20 points or 1.38 per cent.
Global markets surged after reports said the US has finalised a phase one trade deal with China in return for Beijing buying more American goods.
US President Donald Trump has reportedly given his final approval to the deal which would suspend tariffs that are set to kick in from Sunday, de-escalating their 17-month trade war.
Meanwhile, Boris Johnson secured a thumping parliamentary majority in the UK's general elections, ending the uncertainty over Brexit.
Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent.
On the other hand, Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
According to Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers, Indian markets shrugged off weak macroeconomic numbers released post market on Thursday and ended in the green on positive global cues.
As per government data, rising food prices pushed the retail inflation in November to over three-year high of 5.54 per cent, while the industrial sector output shrank for third month in a row by 3.8 per cent in October.
Markets continued to edge higher on hopes of positive announcements by Finance Minister Nirmala Sitharaman at a press conference post market hours, Solanki added.
Sectorally, BSE metal, realty, IT, auto, capital goods, teck, bankex and finance indices ended up to 2.30 per cent higher.
BSE telecom settled in the red.
Broader BSE midcap and smallcap indices closed up to 0.92 per cent higher.
Photograph: Amit Dave/Reuters
