India's Sensex Posts Biggest Gain in Two Years on Rebound
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India’s benchmark index rebounded, recouping a year-to-date advance, as some investors judged Thursday’s sell-off as excessive.
The benchmark S&P BSE Sensex Index rose 2.2 percent to close at 34,733.58 in Mumbai, its biggest advance in more than two years. The gauge had erased its year-to-date gain Thursday, despite posting its best weekly performance since July. On Friday, all except two of 19 sector sub-indexes compiled by BSE Ltd. ended higher, led by automakers and energy companies as the price of crude oil headed for the biggest weekly decline since May. Tata Consultancy Services Ltd., the nation’s biggest IT company, was the biggest laggard after reporting earnings.