Markets snap 4-day losing streak, up on value buying

Mumbai: Stock markets rebounded from early lows to close higher on Friday, snapping the four-day losing streak on heavy value buying in banking and auto shares.

The 30-share BSE Sensex climbed 599.34 points or 0.83 per cent to settle at 73,088.33. The index opened lower and tanked further 672.53 points or 0.92 per cent to hit a low of 71,816.46 in early trade. However, the index rebounded in the second half on value-buying in banking shares. The NSE Nifty jumped 151.15 points or 0.69 per cent to close at 22,147. The broader index dropped to a low of 21,777.65 in early trade before paring its losses to end in the green.

From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards. Infosys declined nearly 1 per cent after the company’s revenue growth guidance for FY25 failed to meet market expectations.