MUMBAI: Benchmark equity indices staged a sharp rebound on Friday, with the Sensex surging 2.54 per cent to reclaim the 79,000 mark, driven by an across-the-board rally and value buying at lower levels, even as the Adani issue remained hotly discussed.
Strong buying by domestic institutional investors and positive cues from US markets further supported the recovery, traders said.
The BSE Sensex climbed 1,961.32 points or 2.54 per cent to settle at 79,117.11. During intraday trade, it soared 2,062.4 points or 2.67 per cent to touch 79,218.19. Similarly, the NSE Nifty advanced 557.35 points or 2.39 per cent to close at 23,907.25.
All green
All 30 Sensex stocks closed in the green, with blue-chip counters like Reliance Industries, IT, and technology shares leading the rally. State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries, and Bajaj Finance emerged as the top gainers.
Shares of most Adani Group companies also bounced back from Thursday’s sharp sell-off, despite the ongoing discussions around allegations of bribery and fraud involving billionaire Gautam Adani.
Ambuja Cements rose 3.50 per cent, ACC gained 3.17 per cent, Adani Enterprises climbed 2.16 per cent, Adani Ports added 2.05 per cent, Adani Total Gas was up 1.18 per cent, and NDTV edged up 0.65 per cent on the BSE.
On Thursday, FIIs sold equities worth Rs5320.68 crore, while DIIs purchased shares worth Rs4200.16 crore, according to exchange data.
Asian indices
In the broader markets, Asian indices closed mixed, with Seoul and Tokyo ending in positive territory, while Shanghai and Hong Kong declined. European markets were trading lower during the day, though US markets closed on a positive note on Thursday.
Meanwhile, global oil benchmark Brent crude rose 0.19 per cent to $74.37 a barrel.
On Thursday, the BSE Sensex had declined 422.59 points or 0.54 per cent to 77,155.79, while the Nifty fell 168.60 points or 0.72 per cent to 23,349.90.
