Market Close: Sensex Gains 331 Points, Nifty Ends Above 24,150; IT Stocks Lead Rally

Last Updated:August 28, 2026, 15:49 IST

The Sensex closes at 77,264.51, up 330.92 points, or 0.43%, while the Nifty settles at 24,175.65, gaining 84.80 points, or 0.35%.

Stock Market Today.

Stock Market Today, August 28: The domestic equity markets ended higher on Friday, with the benchmark indices recovering from early weakness as strong buying in information technology stocks helped offset pressure in select consumer and financial stocks. The Sensex closed at 77,264.51, up 330.92 points, or 0.43%, while the Nifty settled at 24,175.65, gaining 84.80 points, or 0.35%.

The Sensex had opened at 77,128.05 and moved between an intraday high of 77,357.97 and a low of 76,988.22. The Nifty also remained range-bound, touching a high of 24,188.30 and a low of 24,076.85 during the session.

IT stocks emerged as the biggest drivers of the market’s gains. The Nifty IT index surged 3.51%, its strongest sectoral performance in the session, tracking the overnight rally in US technology stocks. The move came amid renewed optimism around artificial intelligence spending following Nvidia’s strong second-quarter results and upbeat revenue outlook. The Nifty MidSmall IT & Telecom index also gained 2.26%.

Among other sectors, the Nifty Metal index rose 0.75%, while Pharma and Healthcare gained 0.53% and 0.54%, respectively. The broader market remained mixed, with the Nifty 100 up 0.24%, Nifty 200 gaining 0.20% and Nifty 500 advancing 0.20%. The Nifty Smallcap 250 rose 0.34%.

On the downside, Nifty Chemicals fell 0.70%, followed by Cement at 0.56%, Consumer Durables at 0.48% and FMCG at 0.46%. Realty and Private Bank indices also ended marginally lower.

Within the Sensex pack, TCS was the top gainer, rising 4.09%, followed by Infosys, which advanced 3.34%. Tech Mahindra gained 3.18%, while HCL Technologies rose 2.68%. On the other hand, ICICI Bank, UltraTech Cement, Asian Paints, Maruti and Bajaj Finserv were among the notable laggards.

India VIX, the market’s volatility gauge, declined 4.02% to 10.62, indicating relatively subdued near-term volatility.

Siddhartha Khemka, head of research (wealth management) at Motilal Oswal Financial Services Ltd, said Indian equities are expected to trade in a broader range amid a lacklustre environment, mixed global cues and persistent geopolitical tensions. He noted that Brent crude had cooled to around $88 a barrel, down about 8% over the previous nine days, while investors remained focused on geopolitical developments and key global and domestic macroeconomic triggers.

Khemka said the Nifty IT index was the standout performer, rising more than 3% on the back of the overnight rally in US technology stocks and a recovery from the recent sell-off. He added that rising raw material costs weighed on FMCG stocks.

Market participants will now track global rate cues, including comments from Fed Chair Kevin Warsh on inflation at the Jackson Hole Symposium. The remarks could influence expectations around global interest rates and Indian monetary policy, particularly after the hawkish tone of the RBI’s August minutes revived concerns over potential domestic rate hikes.

“Investors will await Fed Chair Kevin Warsh’s comments on inflation later today at the Jackson Hole Symposium. His remarks could influence expectations for global interest rates and Indian policy rates, particularly after the hawkish tone of the RBI’s August minutes revived expectations of domestic rate hikes. India’s GDP data is due next week, with economists expecting growth to remain resilient at around 7-7.3%, despite some moderation from the previous quarter. India is nearing the rollout of a fresh incentive programme worth up to Rs 13,000 crore for advanced battery cell component makers, aimed at reducing dependence on Chinese producers and strengthening the domestic battery supply chain,” Khemka said.

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High US bond yields could limit the pace of gains in Indian stock markets and keep foreign investment flows subdued. However, the correlation between Indian bonds and global bonds has significantly weakened, suggesting a limited impact of US bond sell-offs on Indian bond yields.

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Mohammad HarisDeputy News Editor (Business)

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More

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