On a weekly basis, the BSE Sensex and the NSE Nifty ended higher by 259.71 points, or 1 percent, and 86.15 points, or 1.09 percent, respectively. The gains were led by banking, capital goods, metal, PSU, IT and realty even as the global stocks trended down.

Markets also got a push from the beginning of December series derivatives contracts as participants created fresh bets.

Sentiment perked up further after Prime Minister Narendra Modi invited Congress President Sonia Gandhi and Congress leader Manmohan Singh for tea this evening, during which the GST issue may come up.

The BSE benchmark got a fresh lease of life on frenzied buying and ended higher by 169.57 points, or 0.65 per cent, at 26,128.20 -- a level last seen on November 6. It has gained 352.46 points in two straight sessions.

Also, the broader NSE Nifty regained the 7,900-mark to close at 7,942.70, a rise of 58.90 points, or 0.75 percent. It logged an intra-day high of 7,959.30 and a low of 7,879.45.

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