India, Feb. 21 -- Stock markets rebounded on Friday, with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares, amid optimism over progress on a trade deal and India's participation in Pax Silica.

The 30-share BSE Sensex climbed 316.57 points, or 0.38 per cent, to settle at 82,814.71. During the day, the benchmark appreciated by 633.94 points, or 0.76 per cent, to hit an intraday high of 83,132.08. The 50-share NSE Nifty advanced 116.90 points, or 0.46 per cent, to close at 25,571.25, as 36 of its components ended in the positive zone and 14 in the red. In the intraday session, it jumped by 209.2 points, or 0.82 per cent, to hit a high of 25,663.55.

The Sensex, on Thursday, tanked 1,236.11 poi...