While better than expected financial results of the companies and flow of foreign funds rejuvenated stock markets as the S&P BSE Sensex surged on Friday by more than 460 points, the rupee continues to be range-bound against the dollar.
The Sensex shot up by 467.38 points or 2.29 per cent to close at 20882.89.
The rally was led by bank stocks which gained the most at 3.93 per cent, followed by metal (3.32 per cent).
All sectoral indices ended in the positive territory.
“Markets had a rally today in the wake of better than expected quarterly results from HDFC Bank, TCS, Infosys and Reliance Industries, which were announced during this week,” said Rakesh Tarway, Assistant Vice-President, Research, Motilal Oswal Securities.
On the National Stock Exchange (NSE), the 50-share Nifty closed at 6189.35 with a gain of 143.50 points or 2.37 per cent.
Rupee loses 4 paise
Meanwhile, the rupee closed at 61.27 on Friday compared to its previous close of 61.23 a dollar. It touched a high of 60.92 in early trades and a low of 61.71.
Though strengthened in the early trades, the rupee fell to a low of 61.71 on rumours that the Reserve Bank of India (RBI) would close the oil marketing companies (OMC) swap window. However, the Reserve Bank issued a clarification stating that OMC swap window would remain operational.