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Sensex snaps 6-day losing streak, gains 320 points
Business
Indian stock markets snapped a six-day losing streak on Friday, with the Sensex jumping 320 points to close at 80,746 and the Nifty finishing near 24,763.
This rebound was fueled by investors looking for bargains after last week's drop of over 2%.
Out of all stocks traded, more than twice as many gained as lost.
Factors behind the recovery
The recovery wasn't limited to just big companies—small-cap and mid-cap stocks also saw solid gains. Tech shares picked up too.
Global factors helped: US markets were up thanks to steady consumer spending and inflation data, while falling crude oil prices gave a boost to energy stocks back home.
All in all, Friday felt like a much-needed reset for investors.