Stocks surged higher Friday as another round of corporate takeovers prodded investors to continue a largely uninterrupted months-long buying streak. The Dow Jones industrial average registered its 24th record close this year and the Standard & Poor's 500 index came within striking distance of its record high.

Beyond the buyout news, which has lent buoyancy to the markets for months, a stronger-than-expected reading on consumer sentiment helped investors set aside some concern that consumers unnerved by higher gas prices would pull back on spending and upend the economy's smooth slowdown.

The latest takeover news, including deals involving marquee names like General Electric Co. and Microsoft Corp., signaled that the enormous amount of liquidity that has lubricated global stock markets in recent months doesn't appear on the verge of evaporating.

The Dow rose 79.81points, or 0.59 %, to 13,556.53. The blue chips set a new trading high of 13,558.48, having crossed 13,500 for the first time on Thursday. The Dow has risen in 30 of the last 36 sessions.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 10 points, or 0.66 %, to 1,522.75, its highest level in more than six years. The index came within fewer than 5 points of its record close of 1,527.46, set in March 2000.

A look at how the Indian ADRs performed: