The Sensex and Nifty closed higher on Friday buoyed by optimism over Q4 earnings and buying in banking stocks. While the Sensex closed 256 points higher to 34,969, Nifty rose 74 points to close at 10,692 level.The Sensex breached the 35000 level intra day but erased gains due to profit booking.
Information technology stocks which logged gains of late due to weak rupee succumbed to profit booking with the BSE IT index falling 1.06%- the maximum losses among the sectoral indexes.
The rupee closed at 66.66 level against the dollar compared to the currency's Thursday closing level of 66.75 level.
The Shanghai Composite Index rose 0.2 percent to 3,082.23 and Tokyo's Nikkei 225 added 0.7 percent to 22,467.87. Hong Kong's Hang Seng advanced 0.9 percent to 30,280.67 and Seoul's Kospi was 0.7 percent higher at 2,492.40. Sydney's S&P-ASX 200 gained 0.7 percent to 5,939.60 and India's Sensex climbed 0.8 percent to 35,003.46. New Zealand, Taiwan and Southeast Asian markets also rose.
Stocks climbed as Facebook led a rally by technology companies. Amazon, Microsoft, Starbucks and United Parcel Service reported higher first-quarter profits. Strong results from companies including Chipotle Mexican Grill and O'Reilly Automotive helped retailers and other consumer-focused companies. Energy companies also climbed. The Standard & Poor's 500 index rose 1 percent to 2,666.94. The Dow Jones industrial average added 1 percent to 24,322.34. The technology-heavy Nasdaq composite advanced 1.6 percent to 7,118.68.