The Sensex and Nifty extended gains in afternoon trade ahead of exit polls for elections results of five states this evening. While the Sensex closed 361 points higher to 35,673 level, Nifty gained 92.55 points to 10,693.  Kotak Mahindra Bank (8.53%),  Adani Ports (3.02%) and Bajaj Auto (2.06%) were the top Sensex gainers. However, both the indices ended lower for the week. The Sensex fell by 521.05 points, or 1.43 per cent, while the Nifty lost 183.05, or 1.68 per cent, during the week.

The Kotak Mahindra Bank stock rose in trade today amid a report that Warren Buffett's Berkshire Hathaway Inc was planning to buy stake in the bank.

Berkshire Hathaway Inc was planning to invest about $4 billion to $6 billion in the bank, according to a report by CNBC-TV18. Berkshire Hathaway may invest in the lender by buying promoter stake or through a preferential allotment, the television channel reported.

Of 30 Sensex stocks, 21 closed higher.  Sun Pharma (2.09%), Coal India (1.62%) and YES Bank (1.31%) were the top Sensex losers.

The BSE mid cap index rose 0.23% to 14,717 level. The Small cap index fell 0.27%  to 14,104 level.

The BSE bankex, (1.66%), auto index (0.79%), and capital goods (0.95%) indices led the gains in trade today.

"Indian equity market had turned cautious during the week, profit booking was evident in anticipation of the final outcome of the state elections, a precursor of the general election. Domestic market rebounded today along with global market which has lightened up, hoping for a resolution of US-China trade war. OPEC's decision to delay the final resolution to cut oil output caused prices to fall, boosting sentiments in India," said Vinod Nair, Head of Research at Geojit Financial Services.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 72.47 crore on Thursday , and domestic institutional investors (DIIs) were net sellers to the tune of Rs 389.78 crore, provisional data available with NSE showed.

Market breadth was negative with 1099 stocks closing higher compared to 1468 ending lower on the BSE.

Shares rebounded in Europe and Asia on Friday as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing.

Germany's DAX climbed 0.7 percent to 10,884.39 and the CAC 40 in France advanced 1.3 percent to 4,840.54. Britain's FTSE 100 jumped 1.6 percent to 6,809.58. The Dow future contract fell 0.5 percent to 24,783.00 and the contract for the S&P 500 lost 0.6 percent to 2,676.00, auguring a glum start to trading.

Japan's benchmark Nikkei 225 added 0.8 percent to 21,678.68, and Australia's S&P/ASX 200 gained 0.4 percent to 5,681.50. South Korea's Kospi rose 0.3 percent to 2,075.76. Hong Kong's Hang Seng gave up 0.3 percent to 26,063.76, while the Shanghai Composite was flat at 2,605.89. Shares rose in India, Taiwan and Southeast Asia.

 Edited by Aseem Thapliyal