India, Oct. 9 -- BSE Sensex and Nifty 50 bounce back in early trade on Friday amid strong buying in IT shares following a steep fall in the previous trading session, triggered by selling in TCS, Infosys and Tech Mahindra amid the reaction to TCS results and global market signals, crude oil prices and foreign fund outflows.

Sensex climbs 422.94 points, or 0.59 percent, to 72,016.18 in initial dealings while Nifty 50 index is up 144.85 points, or 0.65 percent, to 22,376.65, as the indices recover from steep losses of Thursday amid multi-month low closing. According to Reuters at 10:23 am IST, the Sensex was higher by 1.08 percent to 72,363.99 while Nifty 50 was trading at 1.15 percent to 22,489.50.

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