Mumbai: Equity benchmark Sensex jumped 226 points to end at a fresh lifetime high on Friday, boosted by ICICI Bank, Axis Bank and Infosys amid positive cues from global markets.
The 30-share BSE index closed 226.04 points or 0.43 per cent higher at record 52,925.04. Similarly, the broader NSE Nifty advanced 69.90 points or 0.44 per cent to 15,860.35.
Tata Steel was the top gainer in the Sensex pack, rising over 4 per cent, followed by Axis Bank, SBI, ICICI Bank, Bajaj Finserv, L&T and Maruti.
On the other hand, Reliance Industries, NTPC, HUL, Titan and Asian Paints were among the laggards.
"Domestic equities rose mirroring an upbeat mood in the global markets after US President Joe Biden embraced Senate infrastructure deal to help stimulate the economy.
"The overall mood in Wall Street was lifted since the US jobless claims ticked down as the economy heals," said Vinod Nair, Head of Research at Geojit Financial Services.
On the domestic front, recovery was seen in banks and metal stocks following its consolidation during the past few days, he noted.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with gains. Equities in Europe were trading on a mixed note in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.44 per cent lower at USD 75.23 per barrel.
Rupee Slips 2 Paise To Close At 74.20 Against US dollar
The rupee weakened by 2 paise to end at 74.20 (provisional) against the US dollar on Friday as higher crude oil prices weighed on forex market sentiment.
At the interbank foreign exchange market, the rupee opened at 74.15 per dollar as against its previous close of 74.18.
It hovered in the range of 74.14 to 74.25 during the day before ending at 74.20 against the greenback.
"The Indian rupee remained under pressure on Friday on firm crude oil prices and as market participants remained vigilant ahead of US Core PCE Price Index data," Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.08 per cent to 91.74.
"Dollar is showing weakness amid Fed officials differing view on how long inflation is likely to stay high and when to tighten monetary policy. Market Sentiments improved on news that US President Joe Biden and a group of senators agreed on roughly USD 1 trillion infrastructure plan securing bipartisan deal," he noted
The rupee may gain as number of COVID-19 cases in India continued to decline. Rupee may trade in the range of 73.55 to 74.50 in next couple of sessions, he added.
Brent crude futures, the global oil benchmark, declined 0.34 per cent to USD 75.30 per barrel.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,890.94 crore, as per exchange data.
Gold Declines Marginally By Rs 66; Silver Gains Rs 332
Gold in the national capital on Friday dipped marginally by Rs 66 to Rs 46,309 per 10 gram, according to HDFC Securities.
The precious metal had closed at Rs 46,375 per 10 gram in the previous trade.
"Spot gold prices for 24 carat in Delhi were down by Rs 66 reflecting overnight weakness in COMEX gold prices," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
In contrast, silver jumped Rs 332 to Rs 67,248 per kilogram from Rs 66,916 per kilogram in the previous trade.
In the international market, both gold and silver were trading marginally higher at USD 1,782 per ounce and USD 26.17 per ounce, respectively.
"Gold prices are fluctuating within a narrow range on mixed global cues with the firm dollar," he added.