India's main stock index, the Sensex, has closed at a record high on the back of increasing optimism about growth prospects for Indian's economy.
Analysts are optimistic about the prospects for Indian growth
The benchmark Sensex index rose 1.67% to 12,746.75 points on Friday, topping a previous peak set in May.
India's Oil and Natural Gas Corporation, and leading technology firms such as Infosys, led the advance.
The Sensex's recovery marks a change in fortunes for the exchange, which plunged in value earlier this year.
Reports that India's manufacturing sector grew by 11.1% in August helped to cement the positive market sentiment among investors.
"Technology and oil companies have led the Sensex for the past month-and-a-half," said TS Harihar, derivatives head at Karvy Stock Broking.