Snapping a two-day falling streak, the Bombay Stock Exchange benchmark Sensex on Friday gained nearly 169 points on fund-based buying in bluechip stocks led by metals, banks and auto firms on hopes of interest rate cuts.

The Sensex, which remained weak in the last two trading sessions, bounced back by 168.91 points at 9,634.74 as major banking stocks surged on expectations that the central bank may cut interest rates to boost growth. The key index touched the day's high of 9,695.59 and a low of 9,540.60 points.