Indian markets rebound: Sensex jumps 630 points, Nifty gains 203 points

Indian equity markets rebounded on Friday, with the Sensex jumping 630.08 points to 77,261.73 and the Nifty climbing 203.6 points to 23,978.70, driven by a rally in bank stocks and positive global cues.

Axis Bank, Asian Paints, Bajaj Finserv, State Bank of India, ICICI Bank, and Bajaj Finance led the gains, while Sun Pharma, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, and Titan lagged behind. The market’s recovery was also supported by gains in Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng index.

Experts say the market is in a “wait and watch” phase, sensitive to geopolitical developments, crude oil prices, and Foreign Institutional Investors (FIIs). FIIs offloaded equities worth Rs 1,711.19 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 955.90 crore.