Stock Market staged a strong rebound, snapping a three-day losing streak with Nifty 50 closing above 22,500 as across-the-board buying revived sentiment, in-line with the rally across Asian markets and Europe.

At close, the Sensex was up 1,089.18 points or 1.49% at 74,227.08, and the Nifty was up 374.25 points or 1.69% at 22,535.85.

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The broader segment of the market outperformed with the BSE Midcap rose 1.87% while the Smallcap index jumped 2.18%. The overall market capitalisation of firms listed on the BSE rose to nearly Rs 397 lakh crore from Rs 389 lakh crore in the previous session.

On Nifty, as many as 49 stocks ended in the green with Jio Financial Services (5.61%), Shriram Finance (5.21%) and Bharat Electronics (3.69%) ended as the top gainers. Among the sectors, all ended in the green with Capital Goods, Consumer Durables, FMCG, Oil and Gas, PSU, Realty, Telecom, Media up 2-4%.

Nifty Media was up 4.72%, PSU Bank up by 2.64%, Consumer Durables by 2.59%, Realty up by 2.47% and Oil & Gas was up by 2.20%. Nifty Bank closed 1.31% higher, while the Financial Services index jumped 1.64%.

Shares of Jio Financial Services surged nearly 6% after the company announced forays into digital loans against securities through one of its consumer-facing subsidiaries, Jio Finance.

Shares of metal companies strongly surged, helped by reports of China considering further stimulus to support domestic demand.

Among some of the key performers were Lloyds Metals And Energy as the top rising over 6%.

Further, JSW Steel and Adani Enterprises shares were up nearly 3% each while APL Apollo Tubes and Hindustan Copper shares also closed nearly 3% higher.

As of close, 434 stocks had touched circuits, of which 252 BSE-listed shares hit the upper circuits and the remaining 182 BSE-listed shares hit the lower circuits.

On the BSE, 52 BSE-listed shares hit a 52-week high, while 54 BSE-listed stocks touched a 52-week low during dealings.

The rupee closed at 86.2650 against the US dollar, down 0.5% on the day hitting a low of 86.29 during the session, its lowest since March 21.

The Asian stock market opened significantly higher, as the Japanese Nikkei index gained over 5% in the early morning session. Hong Kong’s Hang Seng index surged around 1.50%.

US stocks had ended lower on signs of the tariff spat escalating, after the European Union proposed counter-tariffs.