Indian Shares Bounce Back After Thursday's Selloff

(RTTNews) - Indian shares bounced back on Friday after falling sharply in the previous session on rising geopolitical tensions and uncertainty over the Federal Reserve's rate path.

Unfazed by U.S.-Iran tensions and the sharp spike in Brent crude futures to $72 a barrel, the benchmark BSE Sensex jumped 316.57 points, or 0.38 percent, to 82,814.71.

The broader NSE Nifty index surged 116.90 points, or 0.46 percent, to 25,571.25, with metal and banking stocks leading the surge.

The BSE mid-cap index added 0.4 percent, but the small-cap index slid 0.2 percent. The market breadth was weak on the BSE, with 2,266 shares falling while 1,916 shares rose and 167 shares closed unchanged.

Broad-based buying was seen barring IT sector. State-owned companies like NTPC, ONGC, Coal India and Bharat Electronics rose 1-3 percent.

Bajaj Finance, Kotak Mahindra Bank, Tata Steel, Hindustan Unilever and Larsen & Toubro advanced 1-2 percent. ABB India soared 4.7 percent post its Q4 results.

Dee Development Engineers skyrocketed 13 percent on receiving a letter of intent for the supply of heat recovery steam generator (HRSG) pipes from one of the largest international OEMs based in the United States.