Mumbai, Jan. 2 -- The Indian Stock Market on Friday closed, witnessing a 573-point spike in the Sensex while Nifty 50 settled at a record closing high of 26,328.

At close, the Sensex was up 573.41 points or 0.67 per cent at 85,762.01, and the Nifty was up 182 points or 0.70 per cent at 26,328.55.

Earlier, the benchmark indices opened with marginal gains, reflecting a cautious stance among investors amid limited global cues as several Western markets remained closed for the New Year holiday.

Indian rupee ended lower at 90.19 per dollar on Friday against Thursday's close of 89.96.

Rupak De, Senior Technical Analyst at LKP Securities on Nifty, said, "The index has broken above its previous swing high, reinforcing a positive trend bias. T...