Markets gain 1%, driven by Reliance Industries and Bharti Airtel

Benchmark indices rose 1 per cent on Friday driven by gains in index heavyweight Reliance Industries Ltd (RIL) and telecom major Bharti Airtel.

Moderation in selling by foreign portfolio investors (FPIs) also aided the recovery. In an earlier session, the Sensex and the Nifty had declined 1.5 per cent each amid a Rs 11,756 crore pullout by FPIs. On Friday, overseas funds sold shares worth Rs 4,384 crore, while domestic institutions pumped in over Rs 5,700 crore.