REUTERS - Indian shares closed at their highest in nearly five months on Friday, posting their fourth consecutive weekly gain, driven higher by financial stocks such as HDFC Bank, which hit a record intraday high.
HDFC Bank, which rose as much as 9.5 pct in early trade, however pared gains after the Reserve Bank of India banned fresh buying by foreign investors in the company following a temporary relief on Thursday.
The benchmark BSE Sensex closed 0.59 percent higher at 28,468.75. It was up 0.47 percent on the week.
The broader NSE Nifty rose 0.50 percent to 8,821.70.
It made a weekly gain of 0.32 percent.
Both indexes posted their fourth consecutive weekly gains.
Reporting by Tanvi Mehta in Bengaluru; Editing by Biju Dwarakanath