The blue-chip NSE Nifty 50 index was up 0.24% at 15,337.85, while the benchmark S&P BSE Sensex was 0.19% higher at 51,115.22.
India reported 211,298 new coronavirus cases over the past 24 hours, with the number remaining well below the 300,000-mark for the eleventh day, while deaths rose by 3,847.
The blue-chip NSE Nifty 50 index closed 0.61% higher at 15,301.45, while the benchmark S&P BSE Sensex rose 0.75% to 51,017.52.
Software services giant Infosys Ltd and mortgage lender HDFC Ltd were among the biggest boosts to the Nifty 50, gaining 2.6% and 1.5% at close, respectively. The Nifty IT Index ended 1.76% higher.
The blue-chip NSE Nifty 50 index added 1.81% to close at 15,175.30, while the benchmark S&P BSE Sensex gained 1.97% to end at 50,540.80. For the week, both the indexes rose more than 3%.
The Nifty Bank Index jumped 3.82% after a more than 1% drop on Thursday, helped by a 4.3% rise in SBI after the country's largest lender by assets reported a record quarterly profit.
The blue-chip NSE Nifty 50 index closed down 0.52% at 15,030.15, while the benchmark S&P BSE Sensex settled 0.58% lower at 49,902.64.
ICICI Bank and HDFC Bank closed 1.22% and 1.25% lower, respectively. Both stocks were top boosts to the Nifty on Monday and Tuesday, and are still up about 5% for the week.
India's total coronavirus cases surged past the 25 million mark on Tuesday. Daily cases rose by 263,533, remaining below the 300,000 mark for a second day, a level last seen on April 21, while deaths increased by a record 4,329.
The NSE Nifty 50 index fell 1.04% to 14,696.50, while the S&P BSE Sensex slid 0.96% to 48,690.80.
Adding to investor concerns, India reported a record surge in coronavirus deaths in the past 24 hours, pushing its overall death toll over a quarter million.
The NSE Nifty 50 index closed 0.73% higher at 14,724.8 and the S&P BSE Sensex rose 0.56% to 48,949.76, their highest close since April 29, after struggling to make headway earlier in the session.
India reported more than 400,000 coronavirus infections over the last 24 hours, taking the total tally past 21 million, while deaths rose by a record 3,980, health ministry data showed.
"Small businesses and financial entities at the grassroot level are bearing the biggest brunt of the second wave of infections," Das said, as he announced a slew of other measures to enhance liquidity.
On Wednesday, the blue-chip NSE Nifty 50 index closed 0.84% higher at 14,617.85, while the benchmark S&P BSE Sensex advanced 0.88% to 48,677.55.
The NSE Nifty 50 index dropped 0.94% to 14,496.5, while the benchmark S&P BSE Sensex closed 0.95% lower at 48,253.51, after swinging in choppy trading for most of the session.
The surge of the highly infectious Indian virus variant has swamped the health system, forced states to enter lockdowns and ignited calls for a lockdown at the national level.
The NSE Nifty 50 index was up 0.02% at 14,634.1, while the S&P BSE Sensex slipped 0.13% to 48,718.5.
In Mumbai trading, Bharti Airtel was the top boost to the indexes, ending up 4.1% in its best session since February 1. The S&P BSE telecom index was up 3.5%.
The NSE Nifty 50 index fell 1.77% to 14,631.1, while the benchmark S&P BSE Sensex shed 1.98% to close at 48,782.36.
The Nifty and Sensex have fallen 5.2% and 7.1%, respectively, from February peaks as surging COVID-19 cases and related restrictions have threatened to derail the country's economic recovery.
The NSE Nifty 50 index closed 0.2% higher at 14,894.9, while the benchmark S&P BSE Sensex gained 0.06% to 49,765.94. Both indexes rose more than 1% each earlier in the session.
Steelmakers Tata Steel Ltd and JSW Steel Ltd were among the biggest gainers on the Nifty 50 on Thursday, surging 6.2% and 9.6%, respectively, to record highs.
The NSE Nifty 50 index fell 0.45% to 14,341.35, while the S&P BSE Sensex slid 0.42% to 47,878.45.
The indexes lost 1.89% and 1.95% for the week, respectively, as the imposition of restrictions in major cities threatened to derail a nascent economic recovery.
The NSE Nifty 50 index rose 0.77% to 14,406.15 at close, while the S&P BSE Sensex gained 0.79% to end at 48,080.67.
US pharmaceutical giant Pfizer Inc on Thursday said it was in talks with the Indian government for supply of its vaccines, adding it would set a not-for-profit price for them.