Markets rebound over 1% on oil slip, FII boost

Equity benchmark indices Sensex and Nifty rebounded sharply by over 1% on Friday after sliding for the past three sessions, propelled by bargain hunting in financial, telecom and tech stocks amid a correction in global crude prices.

- Press Trust of India

MUMBAI:

A largely supportive trend overseas and renewed foreign capital inflows supported domestic equities following signs of easing tension in the Middle East, traders said. After a flat start, the BSE Sensex later found its mojo back and surged 1,046.30 points or 1.29% to settle at 82,408.17. During the day, it jumped 1,132.62 points or 1.39% to 82,494.49.

The 50-share NSE Nifty climbed 319.15 points or 1.29% to 25,112.40.

As many as 2,463 stocks advanced while 1,484 declined and 147 remained unchanged on the BSE.

This week, the BSE benchmark gauge jumped 1,289.57 points or 1.58%, and the Nifty surged 393.8 points or 0.59%.