Markets recover as Sensex rallies over 700 points to close at 34,734; Nifty above 10,450

NEW DELHI: Markets on Friday bounced back from the losses posted a day before amid low crude oil prices which gave support to the sliding rupee. The benchmark BSE Sensex continued to trade in green for the whole session and posted a gain of 732 points to end at 34,734. On the other hand, the broader NSE Nifty finished above the 10,450-mark.

On the 30-share BSE pack, all the stocks traded in green apart from Tata Consultancy Services (TCS), which tanked as much as 3.07 per cent.

On NSE, Nifty Metal, Realty, Auto and FMCG were among the top performing sub indices gaining as much as 3.98 per cent.

Investors' sentiment also got a boost ahead of key macroeconomic (factory output or IIP and retail inflation) data set to be released later in the day.

The rupee gained sharply to hit a one-week high at 73.62 per dollar versus its previous close of 74.12.

Oil prices gained slightly, reversing two days of declines due to sharp falls in equity markets and indications that supply concerns have been overblown.

The equity indices are expected to rely heavily on the global factors and may trade accordingly.

“Markets continue to be hanging around with a downward bias. There are corrections, but not a change in direction... Doesn’t look like local factors have an impact now, next week will depend on global action and results,” Jayant Manglik, president-retail distribution at Religare Broking told news agency Reuters.