The NSE Nifty 50 index was up 1.02 percent, or by 124 points, at 12,250 at close, while the benchmark S&P BSE Sensex rose a percent, or by 411 points to 41,575.
Indian shares ended Friday's trade with strong gains, snapping three straight sessions of losses, buoyed by gains in banks and index heavyweight Reliance Industries. Trade sentiment sharply improved across Asian markets as a Sino-US trade deal looked more imminent.
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The 30-share benchmark S&P BSE Sensex gained 411 points, or 1 percent, to settle at 41,575 at close. The broader NSE Nifty50 rose 119 points, or 0.98 percent, to settle Friday's trade at 12,245. For the week, however, both indices ended lower, down 0.2 percent each.
Broader market indices also rose with the Nifty MidCap 100 index rising 0.85 percent. The Nifty SmallCap 100 index also rose 1.28 percent. Among sectoral indices, banking gauge, Nifty Bank, jumped 1.3 percent, extending its weekly gaining streak to third. Nifty PSU Bank rose 3 percent, Nifty Financial Services over a percent, while Nifty Private Bank and Realty also rose well over a percent.
Among index gainers, Coal India, Axis Bank, Bharat Petroleum Corp, SBI and Power Grid rose by up to 3.5 percent. Yes Bank, Wipro, Bharti Infratel, Britannia Industries and Kotak Mahindra Bank dropped by up to 1.44 percent.
Jet Airways shares hit an upper circuit again on Friday after the company disclosed that the Committee of Creditors (CoC) would seek fresh initial bids for the airline.
Shares of HG Infra Engineering Ltd. surged over 9 percent in the early trade on Friday after it was declared L-1 bidder by the National Highways Authority of India (NHAI) for a road project in Haryana.
Key Asian indices ended the session higher as progress in US-China trade talks aided sentiment. However, Japan's Nikkei 225 index ended down 0.4 percent amid poor industrial data. Shanghai Composite had gained after data showed China's industrial profits bounced back in November, however, the index pared gains in the last hour of trade.
Hong Kong's Hang Seng gained 1.3 percent, while South Korea's Kospi rose 0.29 percent.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
First Published: IST