Buy or sell stocks, May 23 -- Indian equity benchmarks closed higher on Friday, supported by strong buying in banking heavyweights such as ICICI Bank, HDFC Bank and Axis Bank, as improving global sentiment lifted investor confidence.

Optimism in the markets was also aided by expectations of progress in ongoing peace negotiations between the United States and Iran, which helped improve risk appetite across global equities.

Both benchmark indices traded in positive territory throughout the session, although the upside remained limited due to elevated crude oil prices and growing concerns that persistent inflationary pressures could force central banks to maintain a tighter monetary policy stance.

The BSE Sensex ended the session at 75,41...