NEW DELHI, Nov. 6 -- Indian equity markets rallied on Friday, with the Nifty rising 494 points, or 2.01 per cent, to close at 25,030.35, supported by strong buying in heavyweight banking stocks, foreign fund inflows and encouraging corporate earnings.

Lower crude oil prices during the week also supported market sentiment. Investors additionally shifted towards Indian large-cap stocks amid a global sell-off in artificial intelligence-related shares.

The rally, however, remained uneven, with mid-cap and small-cap stocks not necessarily matching the gains recorded by the benchmark index.

Foreign Institutional Investors (FIIs) purchased equities worth approximately Rs 14,975 crore on November 5, providing further support to the market. The...