Mumbai: It was a relief rally in the Indian markets, after fall in last seven consecutive sessions.
Short covering in heavyweights and positive global markets lifted the benchmark indices higher.
The BSE Sensex provisionally rose 6.19 per cent on Friday after fund buying in the last hour-and-a-half helped the market snap a 7-day losing streak.
The benchmark 30-share BSE index provisionally closed 523.5 points higher at 8,974.54.
The 50-share NSE index provisionally gained 6.26 per cent to 2,712.95 points.
The Nifty hit 2700 mark in late trade, but did not manage to close above the same level. Huge buying was seen in power, oil & gas, capital goods, banking, telecom and technology stocks.
The Sensex shot up 464.20 points or 5.49 per cent, to settle at 8,915.21, after hitting an intraday high of 8,988.03.
The 50-share NSE Nifty shut shop at 2693.45, down 5.50 per cent or 140.30 points over previous close. It has hit a high of 2718.60.
Among the frontliners, Reliance Infrastructure, Reliance Communication, Sterlite Industries, NTPC, Maruti Suzuki, HDFC, SBI and NALCO were up 8-14 per cent.
However, DLF, Unitech, ACC, Tata Communication and Tata Power remained under pressure.
(With inputs from moneycontrol.com and Reuters)
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