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The Bombay Stock Exchange (BSE) building.IANS

Domestic equities touched a one month closing high and posted their biggest weekly gain in three months on Friday as extension of European Central Bank's stimulus programme lifted investors' sentiments.

While the 30-share index closed at 26747.18, up 0.20 percent; the 50-share index Nifty ended the Friday trade at 8,261.75, up 0.18 percent. Banking, IT and FMCG provided support to the overall market trend, while auto, pharma and metal dragged the indices. As ongoing cash crunch impacted sales numbers of auto makers, auto stocks came under a bearish grip.

Banking stocks gained the most on Friday with State Bank of India's shares closing 2.60 percent higher at Rs 266.65. Bank of Baroda and ICICI Bank also gained more than 2 percent on renewed buying by investors. Tata Power and Tech Mahindra were the other major gainers on Friday. Meanwhile, Bharti Infratel fell the most followed by Bajaj Auto, Coal India and Grasim among others.

Most Asian indices witnessed mixed trading with South Korean's Kopsi and Hong Kong's Hang Seng registering losses. European Central Bank's (ECB) decision to trim the size of its asset buying programme on Thursday weighed on these markets.

On Thursday, the ECB said it would reduce its monthly asset buys to 60 billion euros ($63.68 billion) as of April, from the current 80 billion euros, and extend purchases to December from March. However, major US stock indices posted gains on Thursday and set fresh record highs.

The Indian currency depreciated 0.10 percent to settle at 67.42 against dollar on Friday. Analysts were of the view that outcome of Federal Reserve's two-day policy meeting starting next week would determine the direction of equities and forex markets. Apart of US Fed decision, retail inflation number and industrial production data would also be crucial for future movements of market. Among commodities, crude oil prices extended gain with NYMEX crude for January delivery rising 40 cents to $51.24 a barrel on possible supply cut by non-OPEC nations.