Fag-end buying and short-covering from operators in view of reducing fears of a political uncertainty after Congress party and its coalition won in most of the states pushed up the BSE benchmark Sensex marginally by 12 points.
Results of the 2011 assembly poll in Tamil Nadu, Kerla, Puducherry, Assam and West Bengal showed former Tamil Nadu Chief Minister J Jayalalitha and Union Minister for Railways Mamata Banerjee set to gain power in their respective states.
The BSE Sensex edged high 12.47 points or 0.07 per cent to end at 18,531.28, while the S&P CNX Nifty fell 6.70 points, or 0.12 per cent, to finish at 5,544.75.
The key benchmark indices tumbled on Thursday tracking weak global stocks in anticipation of further monetary tightening by China, the world's second largest economy. The BSE 30-share Index was down by 249.17 points or 1.34 per cent.
Shares of Fast Moving Consumer Goods, Healthchare and Realty were the major gainers of the week on good demand from operators and investors.
India's largest FMCG company by sales Hindustan Unilever jumped 11.56 per cent and was the top gainer from the Sensex pack after company unveiled results.
Meanwhile, food inflation dropped to 7.7 per cent for the week ended April 30, the lowest level in 18 months, due to a fall in the price of pulses and vegetables, especially potatoes.
Among the major indices, the BSE-FMCG shot up by 160.72 points or 4.41 per cent followed by the BSE-Realty by 82.58 points or 3.94 per cent, the BSE-IPO by 36.12 points or 2.05 per cent and the BSE-Healthcare by 85.20 points or 1.40 per cent.
However, the Bankex fell by 80.59 points or 0.64 per cent, the BSE-Capital Goods by 81.26 points or 0.64 per cent, the BSE-Oil&Gas by 46.36 points or 0.47 per cent and BSE-IT by 17.17 points or 0.28 per cent.
Indian's second largest listed cellular services provider Reliance Communication rose by 1.17 per cent.
Other major gainers from the Sensex pack were DLF by 5.88 per cent, Bharti Airtel by 4.69 per cent, ITC by 3.30 per cent, Jindalsteel by 2.02 per cent, Herohonda by 1.75 per cent, Bajaj auto by 1.38 per cent, Jaiprakash Asso by 1.21 per cent and Sterlite Ind by 1.04 per cent.
However, Maruti Suzuki fell by 3.51 per cent, M&M by 2.90 per cent, HDFC by 2.71 per cent, HDFC Bank by 1.94 per cent, Hindalco by 1.64 per cent, Tata Steel by 1.62 per cent and TCS by 1.52 per cent.
Total turnover of BSE and NSE declined to Rs 13,055.61 crore and Rs 46,887.71 crore respectively from the previous weekend levels of Rs 14,379.22 crore and Rs 57,502.50 cr.