Benchmark indices broke their three-day falling streak Friday driven by strength in global equities, sliding crude prices, recovering rupee and a surge in Kotak Bank shares on reports that Berkshire Hathaway was planning to pick up stake in the lender.
The BSE Sensex rallied 361.12 points, or 1.02 per cent, to close at 35,673.25. Similarly, the broader NSE Nifty jumped 92.55 points, or 0.87 per cent, to 10,693.70.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender. According to media reports, Berkshire Hathaway may invest between USD 4 billion and USD 6 billion in the lender by buying promoter stake or through a preferential allotment.
Other gainers included Adani Ports, Bajaj Auto, Infosys, Asian Paints, Maruti, HUL, L&T, M&M, ICICI Bank and Reliance Industries, rising up to 3 per cent. -- PTI