Sensex snaps 5-session selloff, climbs 642 points; NTPC gains over 4%

Equity benchmarks Sensex and Nifty regained footing on Friday after five days of losses as investors snapped up Reliance,  FMCG and IT stocks even as global markets tumbled amid concerns over rising US Treasury yields.

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.

After opening with significant losses, Sensex took a U-turn to end 641.72 points or 1.30 per cent higher at 49,858.24.

On similar lines, the NSE Nifty surged 186.15 points or 1.28 per cent to finish at 14,744.

NTPC was the top gainer in the