Indian equities closed the week positively on the back of heavy buying action witnessed in blue-chip stocks including Reliance Infra, Hindalco and Reliance Communication.

Power, oil & gas, metal and PSU stocks witnessed stock specific action. BSE Midcap and Smallcap index gained 1.11% and 0.51% respectively.

The 30-share index, BSE Sensex, on Friday (Nov 8), opened negatively for the third straight session at 9,631.59 after losing 102.59 points on rising global recessionary pressures.

The Sensex, which plunged to 9631.59 during early trade, struggled to make headway till a little past noon despite staging a few rallies.

But, it gained power during early afternoon trade and kept rising higher and higher as the session moved on and lastly settled the day at 9964.29 after gaining 230.07 points.

In contrast, the broad-based NSE Nifty surged 80.35 points at 2,973.00 after touching an intra-day high of 3,010.00 and an intra-day low of 2,860.10.

The major movers in the 30-share index were Reliance Infra (10.92%), Hindalco Industries (6.61%), Reliance Communications (5.53%), Tata Consultancy Services (4.87%), NTPC (4.78%), and Jaiprakash Associates (4.65%).

The losers’ list included Mahindra & Mahindra (1.83%), ICICI Bank (0.67%), Maruti Suzuki India (0.38%), Oil & Natural Gas Corporation (0.29%) and Tata Motors (0.16%).