The BSE Sensex, which ended nearly 200 points higher, surged 645 points earlier in the day to touch an intra-day high of 32,088.51 points.
Major Asian markets have closed on a positive note and European indices like the CAC and DAX have ended higher.
On Friday, the Nifty50 on the National Stock Exchange ended at 9,251.50, higher by 52.45 points or 0.57 per cent from the previous close.
The BSE Sensex closed at 31,642.70, higher by 199.32 points or 0.63 per centfrom the previous close of 31,443.38.
It had opened at 32,083.32 and recorded an intra-day low of 31,598.
Among the Sensex stocks, Reliance Industries (RIL) was a major gainer, as it surged over 3 per cent after the company announced an investment of Rs 11,367 crore into Jio Platforms by US-headquartered Vista Equity Partners. RIL shares on the BSE ended at Rs 1,561.80, higher by Rs 54.55 or 3.62 per cent from the previous close.