Benchmark indices rebounded sharply on Friday and were trading over two per cent higher during the afternoon amid a broad-based rally.

Market opened on a positive note on Friday, the start of the new series, tracking positive global cues after a sharp recovery at the US markets despite the Russian aggression against Ukraine persisting on the ground. Indices extended gains in the first half, witnessing across the board buying with metals and financials leading the rally. 

At 1 pm, the BSE Sensex was trading at 55,876.21, up 13,46.3 points or 2.47 per cent. It recorded an intraday high of 56,183.70 and a low of 55,299.28. The Nifty 50 was trading at 16,673.00, up 425.05 points or 2.62 per cent. It recorded an intraday high of 16,748.80 and a low of 16,478.30.

The volatility index softened 17.81 per cent to 26.29.

Tata Motors, Tata Steel, JSW Steel, Adani Ports and Coal India were the top gainers on the Nifty 50. Only two stocks- Britannia and Hindustan Unilever were in the red. 

The volatility in the market is likely to persist for some time, according to analysts.

All in green

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

Nifty metal was up nearly 6 per cent while Nifty PSU Bank was up over 5 per cent. Nifty Realty and Nifty Private Bank were up over 4 per cent each. Nifty Bank was up nearly 4 per cent while Nifty Financial Services was up over 3 per cent. Nifty Auto was up nearly 3 per cent.

Broader indices

The broader market rebounded sharply as well with Nifty Midcap 50 was up 3.97 per cent and Nifty Smallcap 50 up 4.27 per cent. The S&P BSE Midcap was up 3.73 per cent while the S&P BSE Smallcap was up 3.61 per cent.

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