Indian equity benchmarks Sensex and Nifty rebounded quickly up to 2.5%, a day after suffering their worst session in about two years. The global markets traded higher as the US and allies formed a united front imposing harsher sanctions against Russia over the Ukraine crisis. Friday’s session ended the longest losing streak for the two indices since the Covid-19 began.

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Breaking the seven-day losing streak the BSE Sensex jumped 1,328.61 points or 2.44% to close at 55,858.52, while the NSE Nifty climbed 410.45 points or 2.53% to 16,658.40. Sensex touched a high and low of 56,183.70 and 55,299.28, respectively.

From 30 Sensex constituents, except HUL and Nestle all shares settled with gains with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra surging as high as 6.54%.

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Top Sensex gainers were Tata Steel, up by 6.54%, IndusInd Bank, up by 5.83%, Bajaj Finance, up by 5.16%, NTPC, up by 4.91%, and Tech Mahindra, up by 4.26%. The top Nifty gainers were Coal India, up by 8.87%, Tata Motors, up by 7.69%, Tata Steel, up by 6.61%, Adani Ports, up by 6.51% and IndusInd Bank, up by 5.86%.

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The broader indices also performed well, with the S&P BSE MidCap and S&P BSE SmallCap both rising more than 4%. All 19 sector indices compiled by BSE ended in the green, with S&P BSE PSU Bank, S&P BSE Power, S&P BSE Metal and S&P BSE Realty indices rising to 6%. Approximately 2446 shares rose, 709 shares fell and 89 shares were unchanged.

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Asian Markets ended significantly higher on Friday following a US rebound and more sanctions announced against Russia for its invasion of Ukraine.

The rupee rallied by 34 paise to close at 75.26 against the US dollar on Friday.

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International oil benchmark Brent crude rose 0.67% to USD 100.80 per barrel.