After surging 739 points in the last two sessions, the Sensex rose by 290.30 points, or 1.53 percent, to 19,270.06 as 20 stocks in the Sensex stocks closed with gains. (Agencies)
This is the second week of gains for the 30-share index which jumped by 650.28 points or 3.49 percent. The broad-based National Stock Exchange index on Friday rose by 87.45 points, or 1.56 percent to 5,680.40. Also, MCX-SX's SX-40 index rose 183.35 points to settle at 11,391.56.
"After new RBI Governor Raghuram Rajan announced a number of measures which will boost the currency as well as economy, investor confidence have been revived and buying from lower levels is being seen," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
Brokers said continuing recovery in the rupee versus dollar also boosted equity markets. Rupee was trading at 65.2 levels compared to Thursday’s close of 66.01.
Sectorally, the banking sector index gained the most by 2.89 percent to 11,333.44 as ICICI Bank surged by 7.3 percent, HDFC Bank by 1.2 percent, IndusInd Bank by 3.5 percent, Yes Bank by 1.9 percent and Axis Bank by 2.8 percent.
The capital goods sector index was second best performer by gaining 2.77 percent to 7,443.02, followed by Oil and Gas index by 2.20 percent to 8,572.54.
The three most heaviest on the Sensex with their nearly 30 percent weightage - Reliance Industries jumped up by 0.73 percent to Rs 867.55, ITC by 1.51 per cent to Rs 316.20 and Infosys by 0.41 percent to Rs 3,014.90.
The marekt will remain closed on Monday for 'Ganesh Chaturthi" and reopen for regular trading on Tuesday.
"Looking broadly at the market’s fundamental setup, the falling USD/INR rates are favourable and now the marketmen would keep an eye on the movement of crude oil," said Nagji K Rita-Chairman & MD, Inventure Growth and Securities.
After surging 739 points in the last two sessions, the Sensex rose by 290.30 points, or 1.53 percent, to 19,270.06 as 20 stocks in the Sensex stocks closed with gains.