The benchmark indices were trading over 2 per cent higher in the afternoon on Friday.

The market rebounded from the previous session’s losses, edging higher in early trade, tracking positive cues from the Asian markets. The indices extended their gains in the first half and were trading higher during the afternoon, witnessing across-the-board buying.

At 1 pm, the BSE Sensex was trading at 53,997.61, up 1,205.38 points or 2.28 per cent. It recorded an intraday high of 54,110.31 and a low of 53,403.29. The Nifty 50 was trading at 16,176.75, up 367.35 points or 2.32 per cent. It recorded an intraday high of 16,210.70 and a low of 16,003.85.

Dr Reddy’s, Nestle India, Tata Motors, Cipla and JSW Steel were the top gainers on the Nifty 50, while three stocks- Shree Cement, UPL and Powergrid, were trading in the red.

Sectoral indices 

All the sectoral indices were trading in the green with pharma, realty, metals and auto recording higher gains.

The Nifty Pharma, Nifty Healthcare Index and Nifty Realty were each trading over 3 per cent higher. Nifty Metal and Nifty Auto were up nearly 3 per cent each. Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank, Nifty FMCG and Nifty Oil & Gas were each up over 2 per cent.

Broader market rebounds 

The broader market also rebounded, with the broader indices trading in the green.

The Nifty Midcap 50 was up 1.70 per cent, while the Nifty Smallcap 50 was up 1.43 per cent. The S&P BSE Midcap was up 1.48 per cent, while the S&P BSE Smallcap was up 1.52 per cent.

The volatility index softened 4.56 per cent to 23.44.