Markets rebound on firm global trends; Nifty hits lifetime peak

Mumbai: Benchmark equity indices bounced back sharply on Friday, with the Nifty hitting its lifetime peak in intra-day trade, tracking a rally in global markets along with buying in Reliance Industries, Infosys and Tata Consultancy Services.

The 30-share BSE Sensex climbed 440.33 points or 0.61 per cent to settle at 72,085.63. During the day, it jumped 1,444.1 points or 2 per cent to 73,089.40.

The Nifty went up by 156.35 points or 0.72 per cent to 21,853.80. During the day, the benchmark soared 429.35 points or 1.97 per cent to reach its lifetime peak of 22,126.80.

Among the Sensex firms, Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries and Bajaj Finance were the major gainers.

Axis Bank, HDFC Bank, Hindustan Unilever, Larsen & Toubro and ITC were among the laggards.

In Asian markets, Seoul and Tokyo settled in the positive territory while Shanghai and Hong Kong ended in the red.

European markets were trading in the green. The US markets ended with significant gains on Thursday.

The BSE benchmark declined 106.81 points or 0.15 per cent to settle at 71,645.30 on the Budget day on Thursday. The Nifty dipped 28.25 points or 0.13 per cent to 21,697.45.

Global oil benchmark Brent crude climbed 0.48 per cent to USD 79.08 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,879.58 crore on Thursday, according to exchange data.