Closing Bell: Sensex Rebounds 247 Points To End Above 38,000, Nifty Also Jumps By 71

Equity benchmark BSE Sensex jumped 247 points on Friday amid positive cues from global markets enthused by hopes of a trade truce between the US and China.

After swinging 608 points in a volatile session, the 30-share Sensex ended 246.68 points, or 0.65 per cent, higher at 38,127.08. It hit an intra-day high of 38,345.41 and a low of 37,737.85.

The broader NSE Nifty too rose 70.50 points, or 0.63 per cent, to close at 11,305.05.

Infosys was the top gainer in the Sensex pack, rallying 4.19 per cent, ahead of its quarterly earnings.Vedanta, Tata Motors, ONGC, Tata Steel, HUL, HCL Tech, Tech Mahindra and Bharti Airtel too rose up to 3.96 per cent.

On the other hand, Yes Bank, M&M, RIL, TCS, Hero MotoCorp, IndusInd Bank and NTPC declined up to 3.30 per cent.

Market rallied tracking gains in global markets after US President Donald Trump offered an positive assessment of US-China trade talks, traders said.

In the previous session, the BSE barometer ended 297.55 points, or 0.78 per cent, lower at 37,880.40, and the Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.

Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 263.11 crore on Thursday, while domestic institutional investors bought shares worth Rs 502.67 crore, data available with stock exchange showed.

"We just completed a negotiation with China. We're doing very well. We're having another one tomorrow. I'm meeting with the Vice Premier over at the White House," Trump told reporters at the White House on Thursday.

In Asia, Shanghai Composite Index, Hang Seng, Kospi and Nikkei settled significantly higher. Equities in Europe were also trading on a positive note in their respective early sessions.

Meanwhile, the Indian rupee appreciated marginally to 71.03 against the US dollar intra-day.Brent crude futures, the global oil benchmark, surged 1.79 per cent to USD 60.16 per barrel, after reports of missile strikes on an Iranian tanker in Saudi Arabia sparked fresh supply concerns.

(With inputs from PTI)