The two key equity benchmarks, Sensex and Nifty, on Friday rebounded sharply after a three-day slump. At 10.10 am, the BSE Sensex jumped 606 points to 71,792. On the other hand, the NSE Nifty was trading at 21,639, up 177 points.
On the 30-share Sensex platform, Airtel, Axis Bank, Titan, TechM, ICICI Bank, Tata Steel emerged early gainers. On the down side, IndusInd Bank, Reliance, Sun Pharma, and PowerGrid were the loser. Among specific stocks, Dixon Tech fell 3.6 per cent after its unit in Noida was searched by the ED.
In the broader markets, the BSE Midcap and Smallcap were trading in the green, rising 0.8 per cent and 0.9 per cent, respectively.
Sectorwise, all indices were trading in the green, with Nifty IT, metal, bank, and capital goods rose 1 per cent each.
In the previous session on Thursday, the S&P BSE Sensex fell 314 points to end at 71,187, while the NSE Nifty50 settled at 21,462, down 110 points.
In Asian markets, Seoul, and Tokyo traded in the green, while Shanghai and Hong Kong quoted lower. The US markets ended with gains on Thursday.
Global oil benchmark Brent crude declined 0.27 per cent to $78.89 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,901.56 crore on Thursday, according to exchange data.
Meanwhile, the rupee dropped 1 paisa to 83.14 against the US dollar in early trade on Friday amid heavy selling of equities by Foreign Institutional Investors (FIIs). Forex traders said positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 83.15, then slipped to 83.16 before trading at 83.14 against the greenback in morning deals, down 1 paisa from its previous close. On Thursday, the rupee settled 1 paisa higher at 83.13 against the US dollar.