The benchmark BSE Sensex on Friday regained the 21,000 level in afternoon trade on emergence of buying in oil and gas, auto, IT, realty and banking stocks.
The 30-share barometer zoomed by 404.88 points to 21,114 after falling 151.24 points in the previous session.
Similarly, the wide-based National Stock Exchange index Nifty rose by 112 points to 6,279.
Analysts said rebound in heavy-weight Reliance Industries, ONGC, Wipro and HDFC helped trading sentiments to improve.
Stock of Reliance Industries and ONGC shot up by 4.56 and 4.09 percent respectively after the government yesterday decided to allow company to double the price of natural gas from April provided the firm gave a bank guarantee.
Meanwhile, the Nikkei rose 0.1 percent to end at 15,870.42, the highest closing level since December 2007, bouncing back from 0.7 percent decline intraday. For the week, the index added 3.0 percent.
The Topix fell 0.1 percent to 1,261.64.
The US Dow Jones Industrial Average gained 0.07 percent in yesterday’s trade.