The 30-share Sensex ended 684 points higher at 20,647 and the 50-share Nifty added 216 points at 6,116 levels.
The precious metal spurted to regain Rs 27,000 level after June 24 as it rose in global markets following Federal Reserve Chairman Ben S Bernanke backed sustained stimulus for the for some time.
Global consumer confidence rose in the first quarter, with a marked increase in sentiment in the United States, Japan and northern Europe.
The prime minister made a reference to orderly exit from unconventional monetary policies in the backdrop of splits between emerging markets and the US.
The rupee on Thursday plunged by a whopping 130 paise to hit life-time low of 60 against the US dollar in early trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers
Politics ahead of general elections, Fed tapering threats and inflation to keep markets on the toes.
The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
For 2020 calendar year, it reduced the estimate by a similar measure to 6.7 per cent.
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.
Launching the auction of mines for commercial mining, that is expected to garner Rs 33,000 crore of capital investment in the country over next five to seven years, Modi said it not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal.
The government is worried the trade gap could worsen again and the currency could weaken as the US Federal Reserve looks set to start tapering its economic stimulus soon.
'Today, political formations seem to adopt an 'us' versus 'them' approach which shows up even in their attitude towards civil servants.'
'This creates an added layer of fear.'
A potential early wind-down of the US stimulus programme and a shrink in China's factory activity pulled down markets.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
Forex dealers said increased selling of the American currency by exporters and banks supported the rupee but a lower opening of the domestic equity market and dollar's rise against other currencies overseas restricted the gains.
Markets slip further as investor booked profit in financials and index heavyweights ITC and Reliance Industries leading the decline.
Markets ended on a strong note after an extremely volatile trading session this Wednesday, on back of significant buying witnessed in the realty and bank spaces.
Forex dealers said besides dollar's gains against other currencies, increased demand for the American unit from importers put pressure on the rupee, but a higher opening in the domestic equity market limited the losses.
Bank shares were the top gainers led by ICICI Bank.
Japan today imports 500,000 tons of coffee annually. Barely 60 years earlier, it was a market that hardly sold a cup! Ad guru Sandeep Goyal reveals how Nestle won the Coffee versus Tea Battle.
This was the biggest single-day gain for Sensex since October 18 when it rose by 467.38 points.
The market rode on US Fed plans to continue the stimulus measures and China's economic reforms.
The Sensex and the Nifty touched an intraday high of 19,724 mark and 5,949 levels, respectively. Foreign Institutional Investors also turned buyers during the previous two sessions, exchange data showed.
We should brace ourselves for more bad news in the coming quarters -- on economic output and growth, strains on the fiscal deficit, export slowdown, small and micro enterprises in distress, and further accumulation of NPAs in the banking sector, says Rahul Khullar.
The 30-share Sensex ended down 157 points at 20,666 and the 50-share Nifty ended down 46 points at 6,141.
Markets continued their losing spree for the fourth straight seesion on Friday as investors turned cautious and booked profits.
The Indian currency had appreciated by a whopping 85 paise in three-day surge
Net profit at M&M and Mahindra Vehicle Manufacturing Ltd contracted to Rs 918 crore from Rs 1,238 crore a year ago while revenue and other income decreased to Rs 12,997 crore from Rs 13,551 crore a year ago.
The rupee fell 13 paise to end at 61.21 against the American currency in Wednesday's trade following fresh dollar demand from importers, amid uptick in retail inflation and slowing industrial production growth.
'India is nowhere near the peak of the infection given its large population of 1.3 billion'
If the Sensex manages to make fresh closing highs, traders would look forward to the index breaching its highest level of 21,206.77.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
The rupee fell 4.8 per cent last month, and was the worst performing Asian currency as the dollar rallied broadly on speculation that the Federal Reserve will begin reducing its monetary stimulus later this year.
"Excellent meeting with Nobel Laureate Abhijit Banerjee. His passion towards human empowerment is clearly visible. We had a healthy and extensive interaction on various subjects. India is proud of his accomplishments. Wishing him the very best for his future endeavours," Modi said in a tweet, sharing a picture of their meeting at his official residence.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
The coronavirus pandemic has changed how businesses look at payments. Earlier, fintech companies said when they were talking to merchants, they were not interested in digitisation.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE.
Fed stimulus withdrawal eyed, clarity sought from China
Clearly, the extra borrowing of Rs 4.2 trillion the government has planned so far will not be enough to meet the shortfall in revenues which could be between Rs 8 trillion and Rs 10 trillion, points out A K Bhattacharya.
All eyes are on new Reserve Bank Governor Raghuram Rajan who will come out with his maiden monetary policy review on Friday amid conflicting demands for rate cut and an urgent need to contain inflation which soared to 6-month high of 6.1 per cent in August.
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