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Mumbai, Read. The domestic stock market on Friday broke the trend of four consecutive trading sessions' decline due to buying in shares of metal, private banks and oil and gas companies amid strength in global markets. Sensex closed 362.57 points higher at 76,515.43 points, while Nifty closed at 23,897.70 points with a marginal gain of 24.25 points.

Sensex rose by 730 points, Nifty also crossed 24,000.

BSE's 30-share Sensex had at one point jumped 730.28 points during trading to reach a high of 76,883.14 points. However, its gains moderated slightly due to profit-booking at higher levels. Of the 30 Sensex stocks, 20 closed with gains and 10 with losses. NSE's Nifty also increased by 132 points during trading and reached the level of 24,005.75 points. However, its gains were limited in the closing auction session (CAS) and it closed at 23,897.70 points.

Rise in these stocks including Tata Steel and Reliance

Major Sensex gainers included Tata Steel, Reliance Industries, Bajaj Finance, Trent, Adani Ports, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Titan, Mahindra & Mahindra and Hindustan Unilever. At the same time, shares of Bharti Airtel, HCL Technologies, Eternal, Asian Paints, Tata Consultancy Services (TCS), Tech Mahindra, Sun Pharmaceuticals, ICICI Bank, Bharat Electronics Limited and Maruti Suzuki India declined.

Relief to the market regarding Fed's interest rate

According to Vinod Nair, Head of Research, Geojit Investments Limited, the Indian stock market got relief as the US Federal Reserve reduced the possibility of immediate interest rate hike and the market regained its momentum. However, market gains were limited due to profit-booking at higher levels and ongoing tensions in West Asia.

He said that share and sector based buying trend continues in the domestic market. The index of shares of small companies also reached its new all-time high during trading. Investor confidence in the broader market remains high due to strong earnings growth, a strong economy and domestic demand.

There was a rise in Asian markets also

Among the major markets of Asia, Hong Kong's Hang Seng closed up by 1.74 percent, South Korea's Kospi closed up by 1.64 percent and Japan's Nikkei closed up by 1.28 percent. In contrast, China's Shanghai Composite Index fell 0.30 percent. Trading in major European markets was mostly stable. Earlier on Thursday, American markets also closed with a gain of more than one percent.

Brent crude below $95 per barrel

Global oil benchmark Brent crude fell 0.40 percent to $95.14 per barrel. Investors are also keeping an eye on the prices of crude oil in the market.

Foreign investors sold, domestic institutional investors bought

According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 2,345.87 crore on Thursday. At the same time, domestic institutional investors (DIIs) were net buyers and bought shares worth Rs 4,977.46 crore. Earlier on Thursday, Sensex fell 417.49 points to 76,152.86 and Nifty fell 41 points to close at 23,873.45. Both the indices had declined for the fourth consecutive trading session.