Equity, forex and derivatives markets will remain closed on Monday due to assembly elections in Maharashtra.
Financial markets will resume trading on Tuesday, reported Reuters.
On Friday, the BSE benchmark Sensex closed 246.32 points or 0.63 percent higher at 39,298.38 while the NSE gauge Nifty too rose 75.50 points or 0.65 percent to settle at 11,661.85.
Both benchmark indices had also posted their second consecutive weekly rise.
During the week, the Sensex advanced 1,171.30 points or 3.07 per cent, and the Nifty gained 356.80 points or 3.15 per cent.
The 10-year benchmark bond yield closed at 6.70 percent.
The rupee on Friday closed almost flat at 71.14 per US dollar amid hardening crude oil prices and lacklustre global cues.
Persistent foreign fund inflows propped up the local unit though the gains were capped by crude oil hitting the $60 per barrel mark.
Meanwhile, Asian stocks edged higher on Monday on hopes for progress in resolving the US-China trade war and expectations of greater investment inflows into Hong Kong.
MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.19 percent. Chinese shares moved up by 0.13 percent while Japan's Nikkei was up by 0.28 percent.
Chinese Vice-Premier Liu He said on Friday that China will work with the United States to address trade concerns. Shares in Hong Kong also got a lift after Chinese bourses revised rules to allow mainland investors to buy Hong Kong-listed dual-class shares for the first time.
— With inputs from agencies
Updated Date: Oct 21, 2019 10:37:00 IST