Sensex Rebounds Over 800 Points, Nifty Trades Above 16,050

Indian equity benchmarks on Friday rebounded after a sharp decline in the previous session. Asian shares jumped after China cut a key lending benchmark to support a slowing economy. The gains in Asia came after a late overnight rally on Wall Street fizzled out.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-up start for the domestic indices.

The 30-share BSE Sensex jumped 802 points or 1.53 per cent to 53,594, while the broader NSE Nifty moved 245 points or 1.47 per cent up to trade at 16,053.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 surged 2.09 per cent and small-cap climbed 1.93 per cent.