Indices rebound 1%, narrow weekly losses

THE EQUITY BENCHMARKS rebounded by nearly 1% on Friday to beat major Asian peers as easing US Treasury yields lifted the investor sentiment.

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THE EQUITY BENCHMARKS rebounded by nearly 1% on Friday to beat major Asian peers as easing US Treasury yields lifted the investor sentiment. Buying in heavyweights — Reliance Industries, HDFC Bank and ITC — significantly contributed to the indices' gains.

After a flat start, the Sensex bounced back and surged 769.09 points, or 0.95%, to settle at 81,721.08. During the day, it jumped 953.18 points, or 1.17%, to 81,905.17. The Nifty-50 rallied 243.45 points, or 0.99%, to 24,853.15. Broader markets underperformed the benchmarks — the BSE midcap index climbed 0.50% and the smallcap gauge advanced 0.45%.