Markets Rebound: Sensex Rises Over 100 Points, Nifty Near 11,600

Domestic stock markets recovered early losses to clock mild gains on Friday morning amid weakness in Asian peers on global growth concerns. 

The S&P BSE Sensex index declined as much as 174.95 points from the previous close to touch 38,814.79 on the downside, before spurting 292.58 points from that level to touch 39,107.37 on the upside. 

Gains in financial and consumer goods stocks outweighed losses in automobile and metal shares. The broader NSE Nifty benchmark climbed to as much as 11,593.60 within the first hour of trade amid high volatility, after hitting 11,516.80 at the day's lowest level.

The session was marked with high volatility with the NSE's India VIX index rising as much as 2.91 per cent. The India VIX index gauges the market's expectation of volatility over the near term. Market breadth was largely neutral, with an advance-decline ratio of about 1:1. On the BSE, 778 stocks traded higher while 681 moved lower. On the NSE, 757 stocks advanced, 792 declined while 554 remained unchanged.