Benchmark equity indices, Sensex and Nifty, rebounded in early trade on Friday, recovering from the sharp decline witnessed in the previous session. The bounce back was primarily driven by value buying at lower levels and a rally in blue-chip bank stocks. Domestic institutional investors (DIIs) played a key role in the recovery, along with firm trends observed in US markets, which further supported the positive movement in Indian equities.

In early trade, the BSE benchmark Sensex surged by 506.58 points, reaching 77,662.37, while the NSE Nifty gained 162.9 points to rise to 23,512.80. Among the 30 constituents of the Sensex, several blue-chip bank stocks were the top gainers. State Bank of India (SBI), ICICI Bank, IndusInd Bank, Tata Motors, Power Grid, Bajaj Finance, Bajaj Finserv, and Tech Mahindra were among the stocks witnessing significant gains.