The market continued to gain momentum for second consecutive session on Friday, though it was a volatile day. The rally was driven by index heavyweights Reliance Industries and HDFC Group stocks. Positive global cues and rupee appreciation also boosted sentiment.

The 30-share BSE Sensex rallied 196.62 points to 35,457.16 and the 50-share NSE Nifty gained 65.50 points at 10,682.20.

The recovery and follow-up buying after Monday's sharp sell-off helped the market close higher for the week. The Sensex climbed 0.8 percent and Nifty rose 0.9 percent.

The upside is likely to continue in coming week as well, but overall it could be rangebound trade amid lack of domestic cues, experts said, adding the trade may largely be driven by global factors.