Markets rebound nearly 1%; Sensex rises 770 pts

The market recouped nearly half of the week's losses, led by gains in FMCG and IT

- Press Trust of India

MUMBAI: Equity benchmark indices Sensex and Nifty rebounded by nearly 1% on Friday, propelled by buying in market heavyweights Reliance Industries, HDFC Bank and ITC.

Besides, hopes of a record dividend from the Reserve Bank of India (RBI) and easing US treasury yields bolstered investor sentiment, traders said. After a flat start, the 30-share BSE benchmark 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. As many as 2,361 stocks advanced while 1,589 declined and 156 remained unchanged on the BSE.

The NSE Nifty rallied 243.45 points or 0.99% to 24,853.15.

On a weekly basis, the BSE benchmark dropped 609.51 points or 0.74% and the Nifty declined 166.65 points or 0.66%.