Sectorally, banking stocks rallied the most. The Nifty PSU Bank index jumped over 6 per cent to 1,238.05 while Nifty Bank climbed over 4 per cent to 19,635
Markets couldn't hold the strength during the day as selling pressure was witnessed in heavy index
Some believe that the best monthly performance in 11 years was on a weak footing, as it was sans any fundamental base
Industry participants, however, say the run-up in market prices may not be enough to improve the sentiment of investors
The Sensex rose 606 points, or 1.9%, to end at 32,720 - the highest close since March 13
Thus far in CY20, 20 companies have announced buyback of their shares, of which, 14 firms have proposed to buyback from open market route
Exchange's BOLT Plus trading system has been modified to execute such trades, existing versions of the trading system will also support negative pricing
The Sensex ended 536 points or 1.7% lower at 31,327, while the Nifty dropped 1.7% or 160 points to close at 9,154 on Friday
Here are the top 10 business headlines on Friday morning
In the earnings department, a total of seven companies including Britannia, Bharti Infratel, and Hathway Cable are scheduled to announce their March quarter results today
The latest rebound in the market has come on the back of a sharp 40 per cent correction in the preceding one-month period with valuations for most stocks plunging to multi-year lows
After swinging over 566 points during the day, the 30-share index ended 59.28 points, or 0.19% higher at 31,648
Today, IT giant Infosys is scheduled to come out with its Q4 numbers and analysts are penciling in a 1 per cent QoQ hit in its revenue growth in constant currency terms for the quarter
Among the 247 actively traded scrips, 17 have shed more than 50 per cent this calendar year. About 40 per cent have slid more than the Sensex, which is down 23 per cent year-to-date
Most global markets surged as investor appetite for risk assets improved due to the progress of an experimental drug for treating covid-19 and on US's plan to reopen its economy.
The Sensex advanced 0.7 per cent to 30,602.61 at the 3:30 pm close in Mumbai, after swinging between a loss of as much as 1.2% and a gain of as much as 1.4%
Tech giant Tata Consultancy Services is scheduled to release its March quarter numbers and analysts see some erosion in the company's revenue due to the nationwide lockdown
Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company's revenue growth to come in at the lower end of the guided range of 0-2 per cent
The 25% tumble in the index has meant that stocks currently offer an earnings yield of about 5.25%, compared with the domestic benchmark 10-year yield of about 6.50%
HDFC will be in focus in today's session after the People's Bank of China increased its stake in the lending major to 1.01 per cent