The 30-share Sensex closed 261.76 points higher at 34,924.87 on Friday while the Nifty 50 ended 99 points up at 10,612.85 led by gains in oil and banking stocks. IT stocks extended gains as the rupee traded near a 16-month low, when markets closed for the day. However, the rupee made comeback as it clocked best single-day rise since March 14, 2017 to end at 67.78, up 56 paise.
Oil prices continued to rise, a trend which will widen the trade deficit. The week ended with US-China trade tensions and uncertainty about US-North Korea summit.