Hero MotoCorp, Bajaj Auto, Lupin, Bharti Airtel and Mahindra and Mahindra were top gainers while Yes Bank, Adani Ports, Power Grid, Sun Pharma and SBI were major losers on the NSE.
Auto companies have announced strong sales data in the month of August and the auto stocks are expected to gain ahead of the upcoming festival.
The Nifty Auto index settled 2.20% higher at 11,036.65 led by a rise in the share prices of Hero MotoCorp, Bajaj Auto, Motherson Sumi and Mahindra and Mahindra. The nifty Metal index also advanced 1.86% led by MOIL, Jindal Steel, Hindalco and Tata Steel as top rising components.
Share benchmark indices closed higher on Friday supported by strong gains in automobiles and metal stocks after the domestic currency strengthened against US dollar. BSE Sensex closed higher by 147.01 points to 38,389.82, while the NSE Nifty50 rose 52.20 points to close at 11,589.10.