Sensex rebounds 1,293 points, Nifty hits record high on value buying after 5 days of losses

The benchmark Sensex rebounded by 1,293 points on Friday, while the broader Nifty surged nearly 2 per cent to a record high, ending a five-day losing streak. This recovery was driven by heavy value-buying at lower levels and a strong rally in blue-chip stocks, including Reliance Industries.

The 30-share BSE Sensex jumped 1,292.92 points or 1.62 per cent to close at 81,332.72. During the trading session, it soared by 1,387.38 points or 1.73 per cent to reach 81,427.18.

The NSE Nifty surged by 428.75 points or 1.76 per cent to settle at an all-time closing high of 24,834.85.

All the Sensex components, except for Nestle, ended the day in the green. Bharti Airtel emerged as the biggest gainer, rising by over 4.51 per cent. Other significant gainers included Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel, and Mahindra & Mahindra. Nestle was the only stock to decline, closing 0.07 per cent lower.

In the broader Asian markets, Seoul, Shanghai, and Hong Kong ended higher, while Tokyo closed lower. European markets were also trading positively. Meanwhile, the US markets ended mostly lower on Thursday.

The global oil benchmark Brent crude saw a decline of 0.40 per cent to $82.04 per barrel.

Foreign Institutional Investors (FIIs) sold equities worth Rs 2,605.49 crore on Thursday, as per exchange data.

This rebound follows a sharp intra-day fall on Thursday, where the BSE benchmark managed to recover some ground, closing 109.08 points or 0.14 per cent lower at 80,039.80. The NSE Nifty dipped slightly by 7.40 points or 0.03 per cent to 24,406.10.

Over the past five days, the BSE benchmark Sensex had tumbled by 1,303.66 points or 1.60 per cent, while the Nifty had declined by 394.75 points or 1.59 per cent.

(With PTI inputs.)