Markets rebound after heavy decline in previous trade; Sensex, Nifty rally nearly 3%

All the Sensex firms ended in the green.

Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3%, aided by positive trends from global markets and across-the-board buying.

Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks.

The 30-share BSE Sensex rallied 1,534.16 points or 2.91% to settle at 54,326.39. During the day, it zoomed 1,604.2 points or 3.03% to 54,396.43.

The broader NSE Nifty jumped 456.75 points or 2.89% to finish at 16,266.15.

All the Sensex firms ended in the green, with Dr Reddy's, Reliance Industries, Tata Steel, Nestle, Larsen & Toubro, Axis Bank, IndusInd Bank, Sun Pharma, State Bank of India and HDFC emerging as the biggest gainers.

The BSE benchmark had dived 1,416.30 points or 2.61% to settle at 52,792.23 on Thursday. The NSE Nifty had tanked 430.90 points or 2.65% to end at 15,809.40.

Meanwhile, Asian markets in Hong Kong, Shanghai, Seoul and Tokyo finished in the green.