Inflation data from the US present a mixed picture. While the CPI inflation data for August has come at 3.7 per cent against expectations of 3.6 per cent, core inflation was on expected lines coming at 4.3 per cent. So the market thinking is that the Fed is likely to pause in September.
The market traded in positive with the Sensex gaining 0.80 per cent to close at 66589.03, while Nifty was up by 0.75 per cent intraday and closed at 19,711.45 levels, its highest ever, whereas Bank Nifty was up by 1.41 per cent to settle at 45449.75.
The Nifty opened the week on a high note at 18,619.15 points after closing previously at 18,499.35 points.
The Nifty Bank index opened strongly at 44,078.60, touched a high of 44,151.80 and a low of 43,987.95, to close at 44,049.10 points.
The broader NSE Nifty advanced 140.30 points or 0.75 per cent to end at 18,758.35, its fresh record closing high.
Extending its gains to the seventh straight session, the 30-share BSE Sensex jumped 524.51 points or 0.88 per cent to close at 59,831.66.
Less than 15 per cent of the Nifty 500 companies have a dedicated committee of the board to oversee the enterprise sustainability agenda.
Sun Pharma, Mahindra & Mahindra, Dr Reddy's and Power Grid were among the winners.
After jumping nearly 560 points during the session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52. Similarly, the NSE Nifty shed 8.90 points or 0.05 per cent to close at 17,007.40.
The BSE benchmark ended 412.96 points or 0.68 per cent lower at 59,934.01 on Thursday. The Nifty dipped 126.35 points or 0.7 per cent to settle at 17,877.40.
At close, Sensex ended 455.95 points or 0.76 per cent up at 60,572.08, and Nifty closed up 133.70 points or 0.75 per cent at 18,070.05.
In the three-day rally, Sensex advanced 1,086 points, while Nifty gained nearly 312 points.
All the 30 stocks on the Sensex ended in green.
BSE LargeCap Index rose 0.16 per cent, whereas BSE SmallCap and MidCap index rose 0.83 per cent and 0.80 per cent, respectively.
BSE midcap ended up 0.64 per cent, whereas BSE SmallCap and BSE LargeCap closed 0.53 per cent and 0.71 per cent, respectively.
Mahindra & Mahindra, Maruti Suzuki India, Asian Paints, Hindustan Unilever, Ultratech Cement and HDFC, among others, were the major gainers on the BSE.
At close, Sensex ended up 130.18 points or 0.22 per cent at 59,462.78, while Nifty closed 39.15 points or 0.22 per cent higher at 17,698.15.
By 1 p.m., Sensex was trading up 175.73 points or 0.30 per cent at 58,475.53, and Nifty was trading 45.75 points or 0.26 per cent higher at 17,427.75.
The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75.
The 30-share BSE Sensex fell 306.01 points or 0.55 per cent to settle at 55,766.22 dragged down by index heavyweight Reliance Industries.