After five days of losses, bull finally returned to the driving seat, taking the equity benchmarks Sensex and Nifty over 1 per cent higher.

Tracking the global negative trends caused due to concerns over rising US Treasury yields, the domestic markets had opened in red zone. The plunge was, however, recovered within first 120 minutes of the day’s trade.

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Participants shrugged off a spurt in COVID-19 cases in multiple states, though reimposition of localised lockdowns can pose a threat to economic recovery, traders said.

The S&P BSE Sensex made ended 641.72 points or 1.30 per cent higher at 49,858.24, while the broader NSE Nifty surged 186.15 points or 1.28 per cent to finish at 14,744.

The gainers on the Sensex pack were led by NTPC, rallying 4.58 per cent, followed by HUL, PowerGrid, Reliance Industries, ITC, UltraTech Cement, and HCL Tech.

Index heavyweight Reliance Industries accounted for the lion’s share of the gains.

On the other hand, L&T, Tech Mahindra, Bajaj Auto, and Titan were among the laggards, slipping up to 1.20 per cent.

During the week, the Sensex sank 933.84 points or 1.83 per cent, while the Nifty declined 286.95 points or 1.90 per cent.

“The highly volatile domestic markets witnessed a smart recovery from its morning weakness and was swinging between gains and losses during the day owing to strong buying seen in FMCG, Pharma and Energy stocks. However, auto stocks were under pressure after the announcement of the government’s new scrapping policy.

“The unsettling pace of US bond yields and a surge in COVID cases worldwide resulted in the global markets trading deep in red,” said Vinod Nair, Head of Research at Geojit Financial Services.

Sector-wise, BSE power, utilities, energy, FMCG, basic materials, and metals indices rose up to 3.25 per cent, while BSE realty and capital goods closed with losses.

Broader BSE midcap and smallcap indices rallied up to 1.35 per cent.

World equities stayed on the back foot as investors fretted over elevated US bond yields and the slow pace of COVID-19 vaccine roll-outs in many countries.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo, and Seoul ended on a negative note.

Stock exchanges in Europe were also trading with losses in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 1.36 per cent higher at USD 64.14 per barrel.

The rupee ended just 1 paisa higher against the US dollar at 72.52.