Equity benchmark Sensex rebounded from a sharp selloff in early trade to finish 243 points higher on Friday, led by strong gains in Reliance Industries and a rebound in European markets.<\/p>\n
After plunging 1,190.27 points to hit a low of 32,348.10 in opening trade, the 30-share index settled 242.52 points, or 0.72%, higher at 33,780.89.<\/p>\n
Similarly, the NSE Nifty rose 70.90 points, or 0.72%, to end at 9,972.90. It hit an intra-day low of 9,544.35.<\/p>\n
M&M was the top gainer in the Sensex pack, rallying around 7%, followed by Bajaj Finance, Hero MotoCorp, Reliance Industries (RIL), Titan and Bajaj Auto.<\/p>\n
On the other hand, ONGC, Tech Mahindra, PowerGrid, Infosys and Kotak Bank were among the laggards.<\/p>\n
According to analysts, market witnessed a gap-down opening on negative cues from Wall Street and Asian peers, foreign fund outflows and concerns over rising coronavirus cases.<\/p>\n
However, recovery in RIL and strong opening of European stocks lifted domestic investor sentiment.<\/p>\n
Bourses in Paris, Frankfurt and London rallied up to 2% in early deals.<\/p>\n
On the other hand, exchanges in Shanghai, Hong Kong, Tokyo and Seoul finished up to 2% lower following a rout on Wall Street.<\/p>\n
International oil benchmark Brent crude futures inched up 0.83% to $38.86 per barrel.<\/p>\n
Meanwhile, the number of coronavirus cases across the world crossed 75 lakh and the death toll has topped 4.21 lakh.<\/p>\n
In India, the death toll due to COVID-19 rose to 8,498 and the number of infections rose to 2.97 lakh, according to the Health Ministry. <\/p>\n<\/div>\n