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A long build-up was seen in 64 stocks including Apollo Tyres, Can Fin Homes, Exide Industries, MRF, and L&T Finance Holdings.

On the sectoral front, the metal index was up 1.3 percent, PSU bank index was up 0.7 percent and auto index was up 0.4 percent, while realty and healthcare indices ended lower

Anand James, Chief Market Strategist at Geojit Financial Services, suggests that the Bank Nifty index could find new leaders as over 50% of its constituents are still above the 50-day moving average. He also believes that the index is due for a bounce back and expects a breakout in the latter part of October. James discusses the prospects for Nifty and HDFC Bank, stating that a recovery attempt may be made but a vertical rise is unlikely. He also provides stock picks for the week ahead, including Granules and Eveready.

The S&P BSE Sensex rose more than 300 points while the Nifty50 closed above 19600 levels on Friday.

India VIX was up by 2.61% from 10.90 to 11.18 levels in the previous session. Volatility was slightly on the rise but is still trading at its lower band.