The Nifty rose 176.50 points, or 1.74 per cent, during the week.
Benchmark Sensex edged up on the first session of the November derivatives series on Friday to finish at a fresh lifetime high of 33,157 as it signed off the week on a winning note.
The 30-share index scored a hat-trick by finishing at record highs for the third straight session.
Encouraging earnings by blue-chips like Maruti Suzuki and beginning of the November futures and options (F&O) series prodded participants to make fresh bets, brokers said.
However, the broader NSE Nifty slipped from record to close at 10,323.05, down 20.75 points, or 0.20 per cent.
The Sensex resumed higher at 33,228.32 and surged to an intra-day record of 33,286.51. It finally ended at 33,157.22, up 10.09 points, or 0.03 per cent.
For the week, the Sensex recorded handsome gains of 767.26 points or 2.37 per cent -- its best weekly gain since January 27.
The Nifty rose 176.50 points, or 1.74 per cent, during the week -- the most since October 13.
"Small and midcap stocks continued to show strength ahead of MSMEs' meeting with the GST Council scheduled on Sunday.
"Revival in the banking sector seems to have eased the nerves of FIIs and now market will be expectant on further updates on GST implementation in petroleum products and better Q2 numbers," said Anand James, chief market strategist, Geojit Financial Services.
Yes Bank tanked 7.39 per cent after the lender reported worsening of bad loans metrics for the second quarter of 2017-18.
Sector-wise, healthcare jumped 1.61 per cent, infrastructure 1.16 per cent, auto 0.85 per cent, consumer durables 0.28 per cent, FMCG 0.23 per cent and IT 0.08 per cent.
However, telecom, energy, PSU, oil and gas, banking, teck, realty and metal fell up to 5.06 per cent.
Major gainers were Adani Ports 4.31 per cent, Sun Pharma 3.65 per cent, ONGC 3.53 per cent, Tata Motors 2.55 per cent, Dr Reddy's 2.12 per cent, Cipla 1.78 per cent, Kotak Bank 1.52 per cent, TCS 1.42 per cent, M&M 1.06 per cent, Hero MotoCo 0.87 per cent, ICICI Bank 0.57 per cent, HDFC 0.56 per cent, Lupin 0.38 per cent and Bajaj Auto 0.34 per cent.
ITC also ended higher by 0.32 per cent after the company reported a 5.59 per cent increase in its standalone net profit at Rs 2,639.84 crore for the quarter ended September 2017.
On the other hand, Bharti Airtel fell 4.98 per cent, SBI 3.03 per cent, Wipro 1.94 per cent, RIL 1.88 per cent, NTPC 1.49 per cent, HUL 1.13 per cent and Coal India 0.55 per cent.
Among secondary indices, the BSE Mid-Cap index rose 0.28 per cent while the small-cap index gained 0.27 per cent. Both the indices outperformed the Sensex.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 375.63 crore and domestic institutional investors (DIIs) sold shares worth a net Rs 523.54 crore on Thursday, as per provisional data.
Firm trend in Asian markets and higher opening in Europe following overnight gains in US equities after a slew of solid earnings and Congressional action on tax reform also bolstered sentiment back home, brokers added.
In the Asian region, Japan's Nikkei rose 1.24 per cent, Shanghai Composite gained 0.27 per cent and Hong Kong's Hang Seng advanced 0.84 per cent.
In the euro zone, Paris CAC 40 rose 0.89 per cent, while Frankfurt's DAX was up by 0.68 per cent in late morning trade. London's FTSE gained 0.24 per cent.
Photograph: Shailesh Andrade/Reuters
