The Sensex and the Nifty logged smart gains for a second day in a row, led by gains in Infosys, which is slated to declare results later on Friday.
The Nifty ended higher by 35 points. Among the top gainers from the Nifty were DLF, which jumped 5 per cent, while Tata Motors gained on impressive numbers posted by Jaguar Land Rover.
ICICI Bank and HCL Tech were among the other gainers on the Nifty. Bharti Airtel on the other hand lost ground after the Supreme Court said that it cannot add new 3G customers in seven zones where it does not own the airwaves and offers the services through pacts with other carriers, pending a final ruling in the dispute.
Mahindra and Mahindra was down after a tool down strike by its employees at one of the pants, hit the company' s stock. HDFC and Tata Steel were the other stocks that added to pressure on the Nifty.
Among non index stocks Gujarat Apollo gained almost 4 per cent after the launch of a strategic JV with Switzerland based Ammann Group.
PSU Banking stocks continued to be hammered down in trade with notable losers from the space being Indian Overseas Bank, Bank of India and Syndicate Bank.
The Mid cap index closed the day with losses led by losses in name like Allahabad Bank, Hexaware and Sintex. Meanwhile, markets in Asia ended the day with substantial gains and Europe was trading in the green.