Indian indices ended higher for the sixth consecutive session on Friday lifted by gains in financial stocks. Heavyweights ICICI Bank, Axis Bank, Kotak Bank, IndusInd Bank, SBI, and HDFC contributed the most to the benchmarks.

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The Sensex ended 354 points higher at 39,467 while the Nifty rose 88 points to end at 11,647. For the week, the indices rose around 2.5 percent.

The benchmark indices have climbed close to 5 percent this month on signs that business activity is picking up and global optimism around potential coronavirus vaccines.

Broader markets, however, were mixed for the day with the midcap index up 0.5 percent and smallcap index down 0.2 percent.

Among sectors, the banking index surged over 4 percent while Nifty Fin Services rose over 2 percent today. Meanwhile, Nifty Auto lost 0.8 percent and FMCG and metal indices were also negative for the day.

On the Nifty50 index, IndusInd Bank, Axis Bank, UPL, SBI, and ICICI Bank were the top gainers while JSW Steel, Hero Moto, Dr. Reddy's, Powergrid, and Infosys led the losses.

IndusInd Bank extended yesterday's gains, was up 12 percent after global agency UBS upgraded the stock to 'Buy' from 'Sell'.

NMDC rallied nearly 12 percent after the company approved demerger of Nagarnar iron and steel unit which analysts believe will be value accretive for the minority investors.

First Published:Aug 28, 2020 3:35 PM IST