Mumbai: India’s equity indices closed higher on Friday as global markets rallied after the latest economic data from the US faded out chances of recession in the world’s largest economy.

At closing, Sensex was up 1.68 percent, or 1,330 points, at 80,436 and Nifty was up 1.65 percent, or 397 points, at 24,541.

Wipro, Tech Mahindra, M&M, Tata Motors, Ultratech Cement, TCS, HCL Tech, and ICICI Bank contributed the most to the gains in the Sensex. Sun Pharma was the only loser in the BSE benchmark.

Buying was also seen in midcap and smallcap stocks. The Nifty midcap 100 index was up 1,108 points, or 1.96 percent, to 57,656, and the Nifty smallcap 100 index was up 349 points, or 1.93 percent, to 18,436.

The market breadth was skewed in favour of the buyers. Around 2,440 stocks advanced, 1,493 declined, and 97 closed unchanged on the BSE.

Among the sectoral indices, auto, IT, PSU Bank, fin service, FMCG, metal, realty, service sector, and PSE were major gainers.