Equity benchmark indices staged a rebound during early trade on Friday, supported by gains in heavyweight stocks such as Reliance Industries, Tata Consultancy Services, and ICICI Bank, alongside a broadly positive trend in Asian markets.
After initially trading flat, the 30-share BSE Sensex advanced by 122.61 points to reach 71,551.04 in early trade. Similarly, the Nifty rose by 45.45 points to touch 21,763.40.
Key gainers among the Sensex constituents included Reliance Industries, Wipro, the State Bank of India, Tata Consultancy Services, Bajaj Finance, Axis Bank, ICICI Bank, and Tech Mahindra. Conversely, Bharti Airtel, Maruti, Mahindra & Mahindra, Infosys, HDFC Bank, and Kotak Mahindra Bank were among the notable decliners.
In Asian markets, Tokyo and Shanghai were trading in positive territory, while Hong Kong recorded losses. Meanwhile, the US markets closed on a positive note on Thursday.
According to exchange data, foreign institutional investors (FIIs) offloaded equities worth Rs 4,933.78 crore on Thursday.
The previous session saw the BSE benchmark slide by 723.57 points, or 1 per cent to settle at 71,428.43, with the Nifty declining by 212.55 points or 0.97 per cent to 21,717.95. This decline came amidst uncertainties regarding the timing of interest rate reduction following the Reserve Bank of India's monetary policy decision.
On the global front, Brent crude, a key oil benchmark, edged up by 0.09 per cent to reach USD 81.70 a barrel.
(With PTI inputs)
