Brokers said sentiment was strong as foreign investors have remained net buyers of Indian stocks in past ten days. Firm global cues also helped after US Fed Chairperson Janet Yellen yesterday reiterated the Fed is likely to continue tapering asset purchases at a "measured" pace.
After gaining 450 points in past four sessions, the BSE Sensex shot up by 133.13 points, or 0.63 per cent, to end at 21,120.12. The index last closed above the 21,000 level on January 24 when it concluded at 21,133.56.
The gauge had touched the day's high of 21,140.51 intra-day today. Experts said all eyes are on India's October-December quarter GDP growth.
Hindalco led the 18 gainers in 30-share Sensex. TCS, Tata Motors, Sun Pharma, ONGC and BHEL were among notable winners.
However, Maruti Suzuki led the 12 Sensex losers. Shares of the carmaker lost 4.54 per cent, amid investor concerns regarding its proposed Gujarat plant.
For the week, the Sensex gained 419.37 points -- the biggest rise since the week ending November 29, 2013 when the barometer surged 574.54 points.
"Going ahead, the markets would continue to follow developments on the political scene and geopolitical developments in Ukraine," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.
The National Stock Exchange index Nifty rose 38.15 points, or 0.61 per cent, to end at 6,276.95, after climbing to 6,282.70 intra-day.
Sectorally, the BSE healthcare sector index gained the most by rising 2.27 per cent, followed by IT index (1.44 per cent), Auto index (1.37 per cent) and Capital Goods (1.18 per cent). Overall, nine of the 12 sectoral indices gained. Oil&gas, consumer durables and FMCG ended in the red.
Global markets, including those in Asia, were positive ahead of reports on American housing, consumer spending and economic growth.
BSE Sensex posts biggest weekly gain since Nov 2013, Tata Motors, Lupin shares rise
(Reuters) BSE Sensex index rose for a fifth consecutive session on Friday to post its strongest weekly gain this year after blue chips such as Tata Motors rose to a record high on heavy buying by foreign investors.
Tata Motors Ltd provisionally rose 3.7 percent after marking its record high at 418.20 rupees, while Lupin Ltd ended 3.9 percent higher after earlier hitting an all-time high of 1002.40 rupees.
The benchmark BSE Sensex index provisionally closed up 0.43 percent. It rose 1.8 percent for the week, the strongest weekly performance since the week ended on Nov. 29, 2013.
The broader NSE Nifty index ended up 0.49 percent.