Sensex, Nifty rebound over 1% after falling for 6 straight sessions

The Sensex and Nifty, India's key equity benchmark indices, ended a six-session losing streak by surging over 1% on Friday. This rebound was attributed to value buying in sectors such as auto, IT, finance, and energy. Furthermore, better-than-expected quarterly results from corporates boosted investor confidence, although concerns linger about escalating tensions in the Middle East.

The Sensex gained 634 points or 1% and closed at 63,782 after fluctuating between a high of 63,913 and a low of 63,393. Similarly, Nifty rose 202 points, reclaiming the 19,000 level.

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Top gainers and losers

Among the top gainers in the Sensex were Axis Bank, HCL Tech, SBI, NTPC, Tata Motors, Nestle India, and Infosys. Notably, shares of Reliance Industries witnessed significant buying, rising 1.75%. On the other hand, Asian Paints, Ultratech Cement and ITC were the laggards.

The rebound comes after six trading sessions that saw the Sensex decline by 3,279.94 points until October 26.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,702.53 crore on Thursday, according to exchange data.