Sensex, Nifty rebounds 2% on value buying and stable rupee

Mumbai: The key equity indices gained over two per cent during the mid-afternoon session of the trade on Friday rebounding from the losses made after wide-sell off in the global markets which plunged the domestic markets by two per cent on Thursday.

Except for IT and TECK (technology, media and entertainment) all the sectors were in the green, led by finance and banking counters. Auto and realty sectors also recovered, gaining over three per cent.

The domestic currency traded below the 74-a-dollar mark. At 12.21 p.m., the rupee stood around 73.79. It closed at 74.12 to a greenback on Thursday.

At 12.51 p.m., the broader Nifty50 of the National Stock Exchange was trading at 10,460.55, up 225.90 points or 2.21 per cent from its Thursday's close.

The S&P BSE Sensex, which had opened at 34,291.92, was trading at 34,742.29, up 741.14 points or 2.18 per cent.

So far, the Sensex has touched an intra-day high of 34,745.88 points and a low of 34,279.78. 

The top gainers at Sensex were dominated by auto stocks: Mahindra and Mahindra, up 5.54 per cent at Rs 770.65; Maruti Suzuki up 5.06 per cent at Rs 7,226.45; Bajaj-Auto up 4.52 per cent at Rs 2,638.25 from its previous close.

Major losers included TCS, down 3.22 per cent at Rs 1,916 ; Tata Motors(DVR) down 0.44 per cent at Rs 101.25; Wipro down 0.03 per cent at Rs 312.95 per share.