RIL, IT stocks help Sensex bounceback from 3-day losing streak, gain 480 pts

Defying negative cues from global markets, Indian equity indices snapped a three-day losing streak and closed higher on Friday, led by index heavyweight Reliance Industries, HDFC Bank.

A bounceback in IT stocks after their recent slide, and report of Blackstone investment in Cipla boosting pharma stocks helped 30-share BSE benchmark Sensex gain 480 points or 0.74% to settle at 65,721. The broader NSE Nifty surged 135 points or 0.70% to end at 19,517.