Indian equities hit a new high on Friday with the Nifty 50 making a new record of 19,595 and also closed above the 19,500 mark for the first time ever. This is going to be an earnings-heavy week with HDFC Bank and LTIMindtree reporting results on Monday, followed by IndusInd Bank on Tuesday, HUL and Infosys on Thursday, Reliance Industries on Friday and ICICI Bank on Saturday.

Momentum in the markets continued with the Nifty 50 closing above the 19,500 mark for the first time ever as highlighted earlier. Foreign investors continued to remain net buyers in the cash market, while the domestic investors remained net sellers.

Global cues are positive with the Dow Jones adding over 100 points to rise for the fifth day in a row on Friday. For the week, the Dow gained 2.3 percent to register its best week since March. For the week, the S&P 500 rose 2.4 percent and the Nasdaq gained 3.3 percent.

United Healthcare was the biggest contributor to the Dow's gains on Friday. The insurance giant surged more than 7 percent after reporting better-than-expected adjusted earnings and revenue for the quarter, while also raising the lower end of its full-year adjusted earnings guidance. JPMorgan also ended 0.6 percent higher after its earnings topped expectations.

On the commodities front, Gold prices surged to a three-month high after signs of cooling inflation sparked some hopes of a pause in rate hikes from the US Federal Reserve. Gold prices had their best week since April, having gained 1.65 percent.