At Close, the 30-share Sensex jumped 0.51 per cent to settle at 60,261.18, while its broader peer the Nifty50 closed 0.55 per cent higher at 17,956
After starting on a low note on Friday, Indian equities recovered during the day to close higher and log weekly gains. The jump was driven by a rise in financial and IT stocks as these remain in focus due to their third quarter results.
Investor sentiment also got a boost on easing inflation which prompted bets that the central bank could go easy on future rate hikes.
At Close, the 30-share Sensex jumped 0.51 per cent to settle at 60,261.18, while its broader peer the Nifty50 closed 0.55 per cent higher at 17,956.
Among sectoral indices, 10 of the 13 major sectoral indices logged gains with Nifty IT and Financials indices rising 0.74 per cent and 0.57 per cent, respectively.
From Saturday, the focus will shift to financial, as HDFC Bank, the largest private lender is due to report its results.
Analysts, however, cautioned that volatility in markets would continue as foreign institutional investors would flee from the market due to high valuations of domestic firms.
With inflation easing in both India and the United States, investors are now hoping that the central banks would lift the pedal from rate hikes.