The key Indian equity indices surged around one per cent on Friday supported by a rise in banking stocks and easing crude oil prices, with the S&P BSE Sensex closing over 360 points higher.
Along with banking stocks, which rose 485.24 points, healthy buying was also witnessed in auto and capital goods stocks, which gained 171.72 points and 156.38 points, respectively.
The Nifty50 on the National Stock Exchange (NSE) ended higher by 93 points or 0.87 per cent at 10,693.70 points.
The Sensex closed at 35,673.25 points, higher by 361.12 points or 1.02 per cent, against the previous close of 35,312.13 points.
According to analysts, a drop in crude oil prices supported investors’ sentiments. On Friday, the Brent crude oil price fell below the $60-per-barrel mark and traded at around $59 per barrel.
Oil prices fell after the Organisation of Petroleum Exporting Countries (OPEC) delayed the output-cut decision on Thursday as it awaited support from Russia, a non-OPEC major oil producing country.
On the Sensex, the top gainers were Kotak Mahindra Bank, Adani Ports, Bajaj Auto, Infosys and Asian Paints, whereas the major losers were Sun Pharma, Coal India, Yes Bank, NTPC and Tata Steel.