Sensex, Nifty snap two-day losing streak; IT stocks surge, breadth positive
Key equity benchmarks rebounded on Friday, snapping a two-session losing streak, as a sharp rally in IT stocks helped offset weakness in select heavyweight banking and consumer-facing stocks. The rally in IT shares was supported partly by stronger global technology sentiment following upbeat Nvidia results. Pharma and metal stocks also gained, while FMCG and consumer durable stocks declined. Investor sentiment remained cautious ahead of Kevin Warsh's speech later today. Warsh is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for clues on the US central bank's monetary policy outlook. Firm crude oil prices also weighed on sentiment.
The S&P BSE Sensex advanced 330.92 points, or 0.43%, to 77,264.51, while the Nifty 50 index gained 84.80 points, or 0.35%, to 24,175.65. Over the previous two sessions, the Sensex and Nifty had declined 0.93% and 1%, respectively.
The market witnessed heightened volatility in the final leg of trade, with sharp movements in the benchmark indices during the Closing Auction Session (CAS). The late-session swings influenced the final index levels as market participants adjusted their positions ahead of the close.
In the broader market, the BSE 150 MidCap Index rose 0.16%, while the BSE 250 SmallCap Index gained 0.33%.
Market breadth remained positive. On the BSE, 2,385 shares advanced, while 1,932 shares declined and 248 shares remained unchanged.
Numbers to Track:
In the commodities market, Brent crude for October 2026 settlement declined 27 cents or 0.30% to $89.43 a barrel.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.4075 compared with its close of 95.4400 during the previous trading session.
The yield on India's 10-year benchmark federal paper jumped 0.35% to 6.916 compared with the previous session close of 6.851.
MCX Gold futures for 05 October 2026 settlement rose 0.48% to Rs 1,59,765.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 99.22.
The United States 10-year bond yield added 0.26% to 4.684.
Global Markets:
European equities climbed while Asian stocks were broadly higher, with technology shares leading gains following Nvidia's strong results and upbeat outlook. The positive global sentiment was also reflected on Wall Street, where the Nasdaq rose 1.57% on Thursday, while the S&P 500 and Dow Jones Industrial Average gained 0.72% and 0.20%, respectively. Nvidia surged 8.7% after its strong results and forecast reinforced expectations of sustained demand for artificial intelligence infrastructure.
The main focus for global investors on Friday is Federal Reserve Chair Kevin Warsh's first major address at the Jackson Hole symposium in Wyoming. Investors are closely watching his remarks for clues on the US central bank's approach to inflation and interest rates, particularly amid elevated Treasury yields and uncertainty over the future path of monetary policy.
Meanwhile, inflation in Tokyo, a leading indicator of nationwide price trends, remained close to the Bank of Japan's 2% target in August. Core consumer prices, which exclude volatile fresh food prices, rose 1.8% year-on-year, up from 1.7% in July. A measure excluding both fresh food and energy rose 2%, keeping attention on the Bank of Japan's monetary policy outlook.
US initial jobless claims fell by 4,000 to 203,000 in the week ended 22 August, pointing to continued resilience in the labour market. Separately, the US goods trade deficit widened to $118.8 billion in July from $101.4 billion in June, with the increase potentially weighing on third-quarter economic growth.
Crude oil prices firmed up on Thursday, after reports that the Trump administration was not interested in renewing the June ceasefire agreement with Iran. The development added to uncertainty over efforts to ease supply disruptions around the strategically important Strait of Hormuz.
New Listings:
Shares of Tempsens Instruments ended at Rs 586.80 on the BSE, representing a premium of 95.60% as compared with the issue price of Rs 300.
The stock debuted at Rs 631.20 on the BSE, a premium of 110.4% over its issue price. The stock has hit a high of Rs 635 and a low of Rs 551.20. On the BSE, over 47.68 lakh shares of the company were traded in the counter.
Stocks in Spotlight:
IT stocks rallied sharply on Friday, with the Nifty IT index jumping 3.51% to 31,281.70, rebounding after declining 1.79% over the previous two trading sessions.
The rally in Indian IT stocks came amid stronger global technology sentiment following Nvidia's strong quarterly results and upbeat revenue outlook, which reinforced optimism over sustained spending on artificial intelligence infrastructure.
Coforge led the sectoral rally, rising 5.93%, followed by LTIMindtree at 4.73% and TCS at 4.16%. Persistent Systems advanced 3.91%, while Tech Mahindra gained 3.53%. Infosys rose 2.99%, Oracle Financial Services Software gained 2.83%, HCL Technologies advanced 2.66% and Mphasis climbed 1.72%.
Wipro rose 2.58% after the company announced an expansion of its partnership with Google Cloud to accelerate enterprise-wide adoption of Gemini Enterprise and agentic artificial intelligence (AI).
Tejas Networks jumped 7.63% and Tata Consultancy Services (TCS) gained 4.09% after Tejas Networks received a Letter of Intent (LoI) from TCS for supplying equipment for Bharat Sanchar Nigam?s (BSNL) 4G mobile network.
Great Eastern Shipping Company advanced 1.70% after the company?s board approved a share buyback of up to Rs 900 crore through the open market route at a maximum price of Rs 1,530 per equity share. Under the buyback, the company will purchase up to 58,82,352 fully paid-up equity shares of face value Rs 10 each, representing up to 4.12% of the company?s total paid-up equity share capital as on 27 August 2026.
Ather Energy surged 8.09% and Hero MotoCorp rose 0.90% after Hero MotoCorp's board approved the purchase of additional shares in Ather Energy. Hero MotoCorp currently holds 29.88% of Ather on a fully diluted basis. Following the purchase, its stake will increase to up to around 32.8%. The transaction will be completed by 3 September 2026. Hero MotoCorp will pay cash consideration of up to Rs 1,758 crore for the additional shares.
Yatharth Hospital & Trauma Care Services shed 0.58%. As per media reports, Advent International and Blackstone-backed Aster DM Quality Care were in discussions to acquire a controlling stake in the hospital chain.
Initial Public Offer (IPO):
Lumino Industries received bids for 30,45,24,948 shares as against 6,32,05,127 shares on offer, according to stock exchange data at 16:45 IST on 28 August 2026. The issue was subscribed 4.82 times.
The issue opened for bidding on 27 August 2026 and will close on 31 August 2026. The price band of the IPO is fixed between Rs 78 and 82 per share. An investor can bid for a minimum of 182 equity shares and multiples thereof.
Annu Projects received bids for 5,14,44,492 shares as against 1,76,83,000 shares on offer, according to stock exchange data at 16:45 IST on 28 August 2026. The issue was subscribed 2.91 times.
The issue opened for bidding on 25 August 2026 and will close on 28 August 2026. The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 151 equity shares and multiples thereof.
Priority Jewels received bids for 61,02,525 shares as against 32,02,500 shares on offer, according to stock exchange data at 16:45 IST on 28 August 2026. The issue was subscribed 1.91 times.
The issue opened for bidding on 28 August 2026 and will close on 1 September 2026. The price band of the IPO is fixed between Rs 190 and 200 per share. An investor can bid for a minimum of 75 equity shares and multiples thereof.
EDS Software Solution received bids for 2,57,24,400 shares as against 1,23,52,942 shares on offer, according to stock exchange data at 16:45 IST on 28 August 2026. The issue was 2.08 times.
The issue opened for bidding on 28 August 2026 and will close on 1 September 2026. The price band of the IPO is fixed between Rs 408 and 429 per share. An investor can bid for a minimum of 34 equity shares and multiples thereof.
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