The benchmark Sensex rebounded by 1,293 points, while the Nifty surged to a record high on Friday.
This significant recovery broke a five-day losing streak, spurred by heavy value buying at lower levels and a strong rally in blue-chip stocks like Infosys, Airtel, and Reliance Industries.
The 30-share BSE Sensex jumped 1,292.92 points, or 1.62%, to settle at 81,332.72. During the day, it climbed even higher, soaring 1,387.38 points, or 1.73%, to 81,427.18. Meanwhile, the NSE Nifty surged 428.75 points, or 1.76%, to close at an all-time high of 24,834.85. A remarkable 47 out of the Nifty's constituents closed in the green, while only three ended lower.
The Sensex and Nifty had been on a downward trajectory since last Friday. Over the five consecutive days of losses leading up to Thursday, the Sensex plummeted 1,303.66 points, or 1.60%, and the Nifty fell by 394.75 points, or 1.59%.
On Friday, all Sensex shares except for Nestle closed in the green. Bharti Airtel emerged as the biggest gainer, rising by over 4.51%. Other significant gainers included Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel, and Mahindra & Mahindra. Nestle was the sole loser, edging down by 0.07%.
"The domestic market experienced a substantial rebound at the start of the new month, recovering from recent losses following the Union Budget. This upturn was driven by positive reactions to the better-than-expected US GDP figures, which bode well for global demand," analysts said.
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