The barometer 30-scrip Sensitive Index (Sensex) of the BSE recovered nearly 250 points from its day's low at 34,342.16 points to close the day's trade at a new high of 34,592.39 points - up 88.90 points or 0.26 per cent - from its previous session's close. Most Asian stocks closed higher after strong lead from Wall Street. "Expectations are that the aggregate earnings of Sensex companies will see a double digit growth".
The NSE Nifty opened higher at 10,682.55 and moved in a range of 10,690.40 and 10,597.10 before ending at 10,681.25, up 30.05 points, or 0.28 per cent.
United States stocks closed at record highs yesterday as investors bet economic growth would pick up steam.
It saw an intra-day movement of about 93.30 points.
ICICI Bank Ltd rose 2.7 percent, while Reliance Industries Ltd closed 1.2 percent higher.
On the National Stock Exchange (NSE), the wider Nifty50 edged higher by 30.05 points or 0.07 per cent to close at 10,681.25 points.
Other prominent gainers included ONGC, RIL, Dr Reddy's, HDFC Ltd, L&T, IndusInd Bank, Tata Motors and M&M, rising by up to 1.26 percent. The indexes posted a weekly advance of 1.3% and 1.2% respectively.
A total of 24,230.62 lakh shares changed hands in 12,588,175 trades.
Turnover in the cash segment rose to Rs 38,117.13 crore from Rs 35,305.76 crore as on Thursday.
State Bank of India (SBI) advanced 0.6% at Rs 303.80 after the bank said that the proposal will be submitted to executive committee of central board (ECCB) on 17 January 2018, for approval for issuance of long term bonds of Rs 20000 crore for financing of infrastructure and affordable housing in domestic and overseas market instead of Rs 5000 crore as intimated earlier.