Markets rebound after heavy decline in previous trade; Sensex jumps 907 points

The 30-share BSE benchmark Sensex rose 906.98 points to 53,699.21. The broad-based NSE Nifty jumped 308 points to 16,117.40.

Equity benchmarks on Friday recovered sharply after a huge fall in the previous trading session, with the Sensex jumping 907 points in early trading, tracking positive trends from Asian markets.

Also, the jump in the index-major Reliance Industries helped benchmarks return.

The 30-share BSE benchmark Sensex rose 906.98 points to 53,699.21. The broad-based NSE Nifty jumped 308 points to 16,117.40.

“Indexes are ready to trade with strong profits from Asian peers on positive signals,” said Mohit Nigam, PMS head of hem securities. In the early trade, all Sensex firms were trading in the green, with Tata Steel, Dr Reddy’s, IndusInd Bank, State Bank of India, Nestle, Hindustan Unilever, Sun Pharma and Reliance Industries making the most gains. The BSE benchmark fell 1,416.30 points, or 2.61 per cent, to settle at 52,792.23. The NSE Nifty fell 430.90 points, or 2.65 per cent, to 15,809.40.

Meanwhile, Asian markets in Hong Kong, Shanghai and Tokyo are trading green. US stock markets tumbled on Thursday.

Brent crude fell 0.89 per cent to USD 111.04 per barrel.

Value stocks are offloaded by foreign institutional investors 4,899.92 crore on Thursday, according to stock exchange data.

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