BENGALURU, Dec 1 Reuters India39;s Nifty 50 hit a fresh record high on Friday and logged its best week in five months as strong macroeconomic data added to optimism over the global interest rate outlook.

The bluechips Nifty 50 and BSE Sensex gained 2.39 and 2.29, respectively, led by a rise in energy stocks.

Fasterthanexpected quarterly economic growth and acceleration in factory growth in November supported the rise in domestic equities.

All 13 major sectors logged gains for the week, while the more domesticallyfocused small and midcaps extended their outperformance over the bluechips.

Indian markets are in a sweet spot, boosted by return of foreign inflows, strong macroeconomic data, and easing U.S. rate outlook, among other factors, said Umeshkumar Mehta, chief investment officer at Samco Mutual Fund.

FPIs snapped a twomonth selling streak in November, adding stocks worth 90 billion rupees 1.1 billion.

Oil Gas rose 4.38, and was the top weekly sectoral gainer, aided by a drop in crude oil prices as production cuts agreed by OPEC were below market expectations

On the day, the Nifty 50 index rose 0.67 to settle at a record close of 20,267.90, while the SP BSE Sensex gained 0.74 at 67,481.19. The Sensex is less than 1 shy of the record high hit on Sept. 15, 2023.

Among individual stocks, Hindustan Aeronautics climbed 3.46 after an approval from the defence ministry to procure weapons worth 2.23 trillion rupees.

Private lender Axis Bank gained 2.83 to hit a…