Here are 10 things to know about the markets today:
The Sensex ended 127.01 points - or 0.31 per cent - higher at 40,685.50 and the Nifty settled at 11,930.35, up 33.90 points - or 0.28 per cent - from its previous close.
For the week, the Sensex gained 702.52 points (1.76 per cent) and the Nifty added 167.9 points (1.43 per cent).
Maruti Suzuki India, Mahindra & Mahindra, Tata Steel, Power Grid and Bajaj Auto, closing between 2.79 per cent and 4.26 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares.
On the other hand, UltraTech, HCL Tech, Hindustan Unilever, GAIL and Hindalco - ending between 1.30 per cent and 2.44 per cent lower - were the worst hit among 21 laggards in the index.
Maruti Suzuki, HDFC and ICICI Bank were the biggest boosts to Sensex. Overall market breadth favoured gains, with an advance-decline ratio of 3:2 on the BSE, as 1,688 stocks ended higher on the bourse against 1,026 that declined.
Analysts awaited Nifty components Nestle India, Tech Mahindra and JSW Steel to report their earnings in the July-September period.
"Markets are going to be on the sidelines until the US elections are over, since no one really knows what the outcome is going to be, and progress in stimulus there may depend on the outcome," said Umesh Mehta, head of research at Samco Securities. "We may see marginal gains in domestic markets in the absence of any major negative news," he added.
Equity markets elsewhere in Asia registered mild gains as the final debate between US President Donald Trump and Democratic challenger Joe Biden offered little to impress investors, with the focus remaining on signs of progress in US stimulus talks.
European shares started Friday's session on a positive note, with the United Kingdom's FTSE 100 index last seen trading 1.16 per cent higher in early trade.
The E-Mini S&P 500 futures traded 0.21 per cent higher, indicating a positive start of Wall Street on Friday.