Stock markets rebound amid heavy buying in banking & metal stocks, Sensex jumps 316 pts

Mumbai: Stock markets rebounded on Friday, with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares, amid optimism over progress on a trade deal and India’s participation in Pax Silica.

The 30-share BSE Sensex climbed 316.57 points, or 0.38 per cent, to settle at 82,814.71.

The 50-share NSE Nifty advanced 116.90 points, or 0.46 per cent, to close at 25,571.25.

NTPC, Larsen & Toubro, Hindustan Unilever, PowerGrid, Tata Steel, Kotak Mahindra Bank, Bharat Electronics Ltd, Bajaj Finance, Titan, Maruti Suzuki India, Axis Bank and IndiGo were the major gainers on Friday among Sensex stocks.

On the other hand, Tech Mahindra, Infosys, Eternal, HCL Technologies, Bharti Airtel, HDFC Bank, Mahindra & Mahindra and Adani Ports ended with losses.

A total of 2,265 stocks declined, while 1,917 advanced and 167 remained unchanged on the BSE. The market capitalisation of BSE-listed cos jumped Rs 1,89,341.06 crore to Rs 4,67,11,355.63 crore.

The rupee plunged 26 paise to settle at 90.94 against the US dollar on Friday, tracking a strong American currency against major currencies and higher crude oil prices amid intensifying US-Iran

tensions.