India's benchmark stock indices logged their best week in two months after rising for six consecutive sessions on Friday. Intraday, the Nifty 50 crossed the 19,800 level, and the Sensex rose beyond the 66,700 level for the first time in over six weeks since July 27.
The indices advanced for the second time this week, led by the real estate, media, and metals sectors. This was the best week that the indices saw since the week ending June 30.
The S&P BSE Sensex closed 333 points higher, or 0.50%, at 66,598.91, while the NSE Nifty 50 ended 93 points higher, or 0.47%, at 19,819.95.
Equities came under pressure, with Europe's Stoxx 600 sliding for an eighth day, the longest streak since 2016. The Stoxx 600 ceded earlier gains to shed as much as 0.6%, with industrials leading the retreat. Futures on the S&P 500 index and Nasdaq 100 fell 0.3%.
Shares in Asia echoed U.S. declines. Stocks across the region slipped while trading in Hong Kong was scrapped due to the weather. Japanese equities fell for a second day, and South Korea, mainland China, and Australian equities dropped.
HDFC Bank Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., ICICI Bank Ltd., and NTPC Ltd. were positively adding to the change in the Nifty 50.
ITC Ltd., Tata Consultancy Services Ltd., UltraTech Cement Ltd., Tata Steel Ltd., and Apollo Hospitals Enterprise Ltd. were negatively contributing to the change.
The broader market indices outperformed their larger peers; the S&P BSE MidCap was up 0.92%, whereas the S&P BSE SmallCap was also 0.43% higher.
Sixteen of the 20 sectors compiled by BSE Ltd. advanced, while four declined. S&P BSE Realty, S&P BSE Power, and S&P BSE Oil & Gas rose the most.
The market breadth was skewed in favour of buyers. About 2,057 stocks rose, 1,639 declined, and 124 remained unchanged on the BSE.
On a weekly basis, the headline indices advanced for the second week in a row. The S&P BSE Sensex rose 1.85%, and the NSE Nifty 50 was higher by 1.98% this week.
Last week, the S&P BSE Sensex had fallen 0.77%, and the NSE Nifty 50 was lower by 0.88% as well.
All sectors advanced this week, with Nifty Media, Realty, and Energy rising the most.
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