Stock Market:  The benchmark Sensex rebounded 1,293 points while the broader Nifty index soared nearly 2 percent to hit a record high on Friday, snapping a five-day losing streak on the back of heavy buying at lower levels and a rally in blue-chip stocks like Reliance Industries.

The 30-share BSE Sensex index rose 1,292.92 points or 1.62 percent to close at 81,332.72. During the day, it soared 1,387.38 points or 1.73 percent to 81,427.18. The NSE Nifty index rose 428.75 points or 1.76 percent to close at a record high of 24,834.85.

All Sensex stocks except Nestle closed in the green. Bharti Airtel was the biggest gainer, rising over 4.51 percent. Sun Pharma, Adani Ports, Tata Steel, Infosys, JSW Steel, and Mahindra & Mahindra were the other big gainers.

Nestle was the only loser, closing down 0.07 percent. In Asian markets, Seoul, Shanghai, and Hong Kong closed higher, while Tokyo closed lower. European markets also traded in positive territory. US markets closed mostly lower on Thursday. The global oil benchmark of Brent crude fell 0.40 percent to $82.04 a barrel.

Foreign institutional investors (FIIs) offloaded shares worth Rs 2,605.49 crore on Thursday, according to exchange data. Following a sharp fall in intraday trade on Thursday, the benchmark BSE index recovered some of the lost ground to close 109.08 points or 0.14 percent lower at 80,039.80.

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The NSE Nifty index fell 7.40 points or 0.03 percent to 24,406.10. In the past five days, the benchmark BSE Sensex index fell 1,303.66 points or 1.60 percent, while the Nifty declined 394.75 points or 1.59 percent.

(With Agencies Input)