The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up 67.90 points, or 0.78 per cent to 8,812.25 points.
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Brokers said sentiment was largely bolstered on sustained foreign fund inflows and persistent buying by domestic financial institutions as well as retail investors.
Report also noted that the country’s external position is viable and well-buffered to sustain a pick-up in non-oil non-gold imports as growth gathers momentum.
The market breadth remained positive as 1,547 stocks ended in green, 1,094 closed in red while 209 ruled steady.
Gold pared gains on Friday, while the dollar turned up and United States stocks fell, as investors struggled to decipher the timing of a United States interest rate increase following comments by Federal Reserve Chair Janet Yellen and other officials.
Consequently, the key indices traded with gains of nearly a percentage each, as healthy buying was witnessed in automobile, banking and healthcare stocks and a slew of positive results including from property firm, DLF Ltd, lifted the sentiment.
Coal India Ltd was the biggest loser and fell 1.6% after the company reported the lowest production and shipments in three years after heavy rains flooded its mines.
The 30-share Sensex opened on a strong note and advanced further as buying pace gathered momentum to hit a high of 28,581.58, before settling 108.63 points, or 0.38 per cent, higher at 28,532.11, its highest level since April 16 previous year when it had closed at 28,666.04.
While, the Nifty fell by 94.35 points, or 1.09 per cent to 8,572.55 after moving between a high of 8,684.85 and a low of 8,547.55. (The key index had closed at 8,750.20 on April 15, 2015).
The US Dow Jones Industrial Average ended 0.58 per cent higher yesterday.
FPI flow to influence sentiment: Data available with NSDL showed foreign portfolio investors (FPIs) bought equities worth Rs 923 crore on Thursday.
Among BSE sectoral and industries, IT fell 1.25 per cent followed by Capital Goods 1.24 per cent, Realty 1.15 per cent, Teck 0.98 per cent, Healthcare 0.67 per cent, Bankex 0.59 per cent and Power 0.49 per cent, however Consumer Durables rose by 1.46 per cent followed by oil&gas by 0.70 per cent, Auto by 0.62 per cent and Telecom by 0.33 per cent.
The Nifty Auto Index was up about 0.8 percent, with Tata Motors and Mahindra and Mahindra gaining over 1 percent each ahead of August auto sales data scheduled later in the day.
On Tuesday, both the key indices had closed with substantial gains on the back of positive global cues, strong buying support and an appreciating rupee.
Among top gainers, UltraTech Cement, HDFC, Mahindra & Mahindra, Lupin and GAIL rose 1-2 percent.
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Other winners were ITC 1.78 percent, Cipla 1.66 percent, PowerGrid 1.55 percent, NTPC 1.51 percent, NTPC 1.51 percent, Dr Reddy 1.50 percent, SBIN 1.39 percent, Tata Steel 1.26 percent, HDFC 1.25 percent and Larsen 1.21 percent.
