Indian benchmark indices BSE Sensex and Nifty50 closed on a positive note on Friday, with notable gains in banking and automobile sectors as the year drew to a close.BSE Sensex ended at 78,699.07, rising by 226.

Equity benchmarks rise in afternoon trade, Sensex at 78,788.13, Nifty at 23,846.35, auto and banking stocks lead gains.

January typically tends to be a slower month according to the past decade’s seasonality, with Nifty often closing in the red 70 per cent of the time.