Mumbai, Oct. 16 -- The key equity benchmarks closed higher on Friday, extending their rally for a second consecutive session, supported by buying in heavyweight stocks. Investor focus remained on September-quarter earnings, while the rupee strengthened against the US dollar for the sixth straight session. However, broader indices lagged, with midcap and smallcap indices ending marginally lower. Brent crude remained elevated near $105 a barrel. The Nifty settled above the 23,150 mark, with IT and metal stocks advancing, while consumer durables and oil & gas shares declined.

The S&P BSE Sensex jumped 413.66 points or 0.56% to 74,729.27. The Nifty 50 index added 148.80 points or 0.65% to 23,146.15. Over the two consecutive trading sessions,...