Here are 10 things to know about the markets today:
The benchmark indices came within a stone's throw of their all-time highs recorded in the previous session.
Thirty seven stocks on the Nifty 50 index finished the session higher. Top percentage gainers on the index were Yes Bank, UltraTech Cement, SBI, Maruti Suzuki and Hindalco, ending between 2.19 per cent and 8.31 per cent higher.
The Nifty Auto index - comprising shares in manufacturers of automobiles and auto ancillaries - settled with a gain of 1.27 per cent after soaring as much as 1.82 per cent during the session. Prominent gainers included Maruti Suzuki, Tata Motors and TVS Motor, which rose 2.44 per cent, 1.53 per cent and 4.86 per cent respectively.
The government is due to release official data on gross domestic product (GDP) for the quarter ended September 30 on Friday evening. For the first quarter of current financial year, the country's GDP growth came in at a more than six-year low of 5 per cent.
Equities in other Asian markets rose as upbeat comments by US President Donald Trump stoked hopes that Washington and Beijing would hammer out an interim trade deal soon.
Mr Trump said the US and China were close to an agreement on the first phase of a deal, while stressing Washington's support for protesters in Hong Kong, a point of contention between the world's two largest economies. His comments sent MSCI's broadest index of Asia-Pacific shares outside Japan up 0.19 per cent, fanning hopes of an easing of tariff hostilities.
In the last few months, global markets have swung back and forth, rallying on headlines suggesting the barest progress, even as an agreement has yet to be nailed down.