Indian equity benchmark BSE Sensex rebounded by 344 points while Nifty closed above the 16,000 level in volatile trade on Friday, breaking the four-day losing streak on renewed buying interest from foreign investors and positive global trends.

The BSE Sensex surged 344.63 points or 0.65% to close at 53,760.78. During the day, it climbed 395.22 points or 0.73% to 53,811.37. The NSE Nifty gained 110.55 points or 0.69% to 16,049.20.

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The broader indices ended in green with the BSE Midcap index up by 0.84%, while the Small cap index rose by 0.52%. On the sectoral front, Auto was up by 2.34%, Consumer Durables was up by 1.56%, FMCG was up by 1.48%, Capital Goods was up by 1.47% and Telecom was up by 1.35%, while Metal was down by 0.99%, IT down by 0.17%, Utilities down by 0.16% and Power down by 0.08% were the top losing indices on BSE.

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Major gainers from the Sensex pack were Hindustan Unilever up by 2.87%, Titan Company up by 2.84%, Maruti Suzuki up by 2.55%, Larsen up by 2.34%, HDFC up by 2.19%, Mahindra up by 2.14%, Nestle up by 1.85%, Bharti Airtel up by 1.50%, Bajaj Finance up by 1.42% and Asian Paints up by 1.31%.

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Among the laggards were Tata Steel down by 2.70%, Power Grid Corp down by 2.54%, HCL Tech down by 2.28%, Wipro down by 1.93%, Dr. Reddy’s Labs down by 0.84%, and Axis Bank down by 0.83%.

The rupee recovered 8 paise to settle at 79.91 against the US dollar.

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In the Asian markets, Seoul and Tokyo ended in the green, while Shanghai and Hong Kong closed significantly lower.

European stock markets were trading in the green during mid-session deals. The US markets ended on a mixed note on Thursday.

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“Volatility has re-emerged and investors have turned their focus on upcoming Fed policy in the backdrop of heightened US inflation. Fall in crude prices and reduction in FII selling added optimism to the domestic market while gloomy IT results, depreciating rupee, and fear of global recession are restricting sizeable up move,” said Vinod Nair, Head of Research at Geojit Financial Services.

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Brent crude, the international oil benchmark rose by 0.60% to the US $99.72 per barrel.

According to stock exchange data, foreign institutional investors turned net buyers in the capital market on Thursday, buying shares worth Rs 309.06 crore.