Equity benchmark Sensex rallied 548 points higher breaching the key psychological 37,000 mark on Friday tracking gains in index-heavyweights ONGC, Reliance Industries, HDFC Bank, Titan, Bajaj Finance and ICICI Bank.

According to traders, positive earnings reports from key index components led to stock-specific buying, lifting benchmarks toward the closing session.

The 30-share BSE Sensex ended higher by 548.46 points, or 1.50 per cent, at 37,020.14.

Similarly, the NSE Nifty rose 161.75 points, or 1.51 per cent, to 10,901.70.

ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by Reliance, Bajaj Finance, Titan HUL, HDFC Bank and ICICI Bank.

On the other hand, Infosys, TCS, HCL Tech, Nestle and Axis Bank were among the laggards.

Meanwhile, international oil benchmark Brent crude futures fell 0.16 per cent to $43.30 per barrel.