This is how the markets closed today!

Indian shares gave back some of their sharp gains on Friday after traders booked partial profit ahead of the weekend. This selling came after stocks got off to a flier on Friday morning as the US Federal Reserve postponed its much feared interest rate increase overnight. Local banks were in heavy demand.

As a consequence, the Nifty surged 83 points to 7,982, retracing from its intra-day high of 8,054 points. Banks, beaten down until recently, led the bounce back. Axis Bank, Bank of Baroda, M&M, ICICI Bank and State Bank of India were the top five gainers on the Index while Tata Motors, Cairn, ITC, Hindustan Unilever and Bharti Airtel slipped in trade. The Advance-Decline Ratio on the Nifty was 30/20 and the index rose for the second session to hit a 3-week high.

Axis Bank, SKS Micro and Reliance Industries were the top 3 traded stocks on the National Stock Exchange. SKS Micro saw relentless selling after the company failed to be on the Reserve Bank of India's list of 10 lenders allowed to open small banks.

The boarder market was in fine shape with major indices such as CNX 100, CNX 200 and CNX 500 gaining at least 0.8 percent each. The Mid cap index added 0.4 percent and the Small Cap Index jumped 1.9 percent. The mood was buoyant too in the sector-specific benchmarks. The Bank Nifty surged 2.5 percent, CNX PSU Banking Index added 2.5 percent and the CNX Finance Index was up 1.9 percent.

It was festive cheer on the Bombay Stock Exchange with the Sensex gaining 197 points at 26,160. ONGC, Wipro, Lupin, Coal India and Maruti were among the top gainers while Tata Motors, Bajaj Auto and Hindalco fell in trade. The Advance-Decline Ratio was a modest 8/7 on the index where Tata Motors, Reliance and State Bank of India were the top traded stocks.

Tata Motors was under pressure in trade today after group company Tata Steel Ltd. sold 3.28 crore shares of Tata Motors to large institutions, raking in more than 1,260 crore rupees. The deal was done at a slight discount to the current market price.

Bulls dominated trade in the broader market where 1,693 stocks gained ground compared with 920 that fell on the Bombay Stock Exchange.

The derivatives space was in an uptrend as well with 113 futures rising compared with 47 that ended below Wednesday's closing prices. Futures belonging to the Realty, Fertilisers and Banking sectors were in heavy demand while those of Finance, FMCG and metal sectors slipped.

A set of fundamentally strong stocks made it to the list of volume buzzers on Friday. They were Blue Dart, Crisil, Cyient, Abbott India, Pfizer and ENIL to name a few.

(Image credits: Indiatimes)