Friday morning finally marked some gains for Indian equity benchmarks, which had witnessed two days of slump post levy of hiked 50 per cent tariffs on Indian goods by the US.
Both Sensex and Nifty rebounded in early trade, with Sensex firms like Hindustan Unilever, Trent, Asian Paints, ITC, Kotak Mahindra Bank and UltraTech Cement showing the most gains.
The 30-share BSE Sensex climbed 197.11 points to 80,277.68 in initial trade. The 50-share NSE Nifty went up by 63.45 points to 24,564.35.
The laggards were Mahindra & Mahindra, NTPC, Eternal and Infosys.
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On Thursday, the Sensex tanked 705.97 points or 0.87 per cent to settle at 80,080.57. The Nifty dived 211.15 points or 0.85 per cent to 24,500.90.
In the past two trading days, the BSE benchmark has plummeted 1,555.34 points or 1.90 per cent.
Meanwhile, an Indian government official said they were hopeful of making a breakthrough in trade talks with the US once negotiations resume on the proposed bilateral trade agreement (BTA).
However, the official said the new dates for the next round of negotiations for the agreement have not yet been finalised.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index quoted lower while Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory.
The US markets also ended higher on Thursday.
Global oil benchmark Brent crude declined 0.66 per cent to USD 68.17 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,856.51 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹6,920.34 crore, according to exchange data.
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