Both benchmark indices - Sensex and Nifty - recorded their third straight weekly gains by rising 298.61 points and 97 points, respectively.

While the Sensex gained 118 points or 0.34% to 35,260, the Nifty rose 0.38% or 40 points to 10,616 level.

Brent crude, used to price international oils, dropped 30 percent to $65.17 a barrel. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.

However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

Tata Motors (4.84%), Hero MotoCorp (3.82%) and PowerGrid 2.87% were the top Sensex losers. Of 30 Sensex stocks, 25 closed lower.

Benchmark Sensex rallied 310 points to reclaim the 35,000-mark in the opening trade of the special Muhurat session on Wednesday to mark the beginning of Hindu Samvat year 2075.