November 2, 2018 / 6:24 AM / a year ago

Nifty, Sensex clock biggest weekly gain since mid-2016; rupee sees best day in 5 years

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai, March 4, 2015. REUTERS/Shailesh Andrade/Files

(Reuters) - Indian shares climbed on Friday and clocked their best weekly gain in nearly two-and-a-half years, as the rupee rose the most in more than five years and as crude prices softened.

The rupee firmed up 1.33 percent to a five-week high of 72.495 against the dollar, as oil prices slipped further and headed for a weekly loss of more than 6 percent.

The broader NSE Nifty ended 1.66 percent higher at 10,553, while the benchmark BSE Sensex closed 1.68 percent higher at 35,011.65. The NSE index closed 5.21 percent higher for the week while the BSE index added 4.98 percent.

Housing Development Finance Corporation Ltd was the top boost to the NSE index, rising 3.5 percent to its highest close since Sept. 21. HDFC Bank Ltd rose 2 percent while oil-to-retail conglomerate Reliance Industries was up 1.8 percent.

Weak oil prices boosted oil marketing companies. Bharat Petroleum Corporation Ltd, up 6.7 percent, was the top gainer on the index.

Reporting by Chris Thomas in Bengaluru; Editing by Vyas Mohan

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