New Delhi, May 23 -- Indian equity markets staged a sharp rebound on Friday, May 22, bouncing back from Thursday's steep sell-off, as gains in technology and fast-moving consumer goods (FMCG) sectors led a broad-based rally. The strong recovery was powered by upbeat corporate earnings sentiment and a softening in US Treasury yields, which improved risk appetite across global equities.

The benchmark Sensex surged 769 points, or 0.95 percent, to close at 81,721, while the Nifty 50 climbed 243 points, or 1 percent, to settle at 24,853, reclaiming the 24,800 mark. Despite Friday's sharp gains, both indices ended the week slightly lower, logging weekly losses of more than 0.65 percent.

The market's recent volatility has been driven by global...