Indian equity markets ended Friday's session on a positive note, Nifty 50 closing at 24,175, up 84 points or 0.35% and Sensex settling at 77,264, gaining 0.43%, as reported by The Hindu BusinessLine. The recovery came after a two-session losing streak, with IT stocks emerging as the top outperformer, tracking global technology gains after Nvidia's strong quarterly results and upbeat revenue outlook. According to Ajit Mishra, SVP Research at Religare Broking, "IT emerging as the top outperformer, tracking global technology gains after Nvidia's strong quarterly results and upbeat revenue outlook." The Nifty IT index led sectoral gains, surging 3.5%, with TCS, Tech Mahindra, and Infosys among the top Nifty 50 gainers. Metals and pharma also ended in the green, while FMCG, auto, and energy faced selling pressure and closed in the red. Bank Nifty ended nearly flat, slipping 0.02% to 57,496.
Buying interest was observed in IT, media and pharma shares, while FMCG, auto and realty stocks lagged during the trading session, as reported by Business Standard. Among the top gainers, Tata Consultancy Services (TCS) surged 4.35%, HCL Technologies gained 3.27%, Tech Mahindra rose 3.22%, Infosys advanced 2.93% and Wipro increased 2.85%. On the downside, Shriram Finance declined 1.32%, ICICI Bank fell 1.27%, Asian Paints dropped 1.25%, Mahindra Ultratech Cement decreased 1.20% and Tata Steel fell 1.18%. Rubber sector's stocks surged the most in Thursday's trade, rising 1.18% in market capitalisation, followed by Tea/Coffee stocks and Plastics sector stocks, while Small Finance sector stocks fell the most, declining 3.11%.
Tejas Networks jumped 8.65% and TCS gained 4.35% after Tejas Networks received a Letter of Intent (LoI) from TCS for supplying equipment for Bharat Sanchar Nigam's (BSNL) 4G mobile network, according to Business Standard. Great Eastern Shipping Company advanced 1.06% after the company's board approved a share buyback of up to ₹900 crore through the open market route at a maximum price of ₹1,530 per equity share. Ather Energy surged 8.84% and Hero MotoCorp rose 1.52% after Hero MotoCorp's board approved the purchase of additional shares in Ather Energy, with the transaction to be completed by September 3, 2026.
The session's advance was largely sector-specific, with Nifty Midcap 100 edging up 0.05% and Nifty Smallcap 100 gaining 0.20%, the latter continuing to trade near all-time highs, as reported by The Hindu BusinessLine. The advance-decline ratio improved to 1.25, though within the Nifty 500 universe, 286 stocks ended in the red against 207 in the green. NSE cash turnover slipped 4% from the previous session. GIFT Nifty is indicating a positive start for Indian markets, rising 54 points or 0.22% ahead of the trading session. European equities climbed alongside Asian stocks, with technology shares spearheading gains following Nvidia's strong results and upbeat outlook, as reported by Alliance News. Alliance News reports that stocks in London are set to open slightly higher on Friday, ahead of Federal Reserve Chair Kevin Warsh's eagerly-anticipated Jackson Hole speech.
Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming, according to Reuters. All eyes will be on Warsh's address at the Jackson Hole symposium over the weekend, with investors closely watching for signals on the U.S. economic outlook, recent bond-market volatility and the risks facing both the U.S. and global economies. Technically, Nifty remains below its 20-day and 50-day EMAs, keeping near-term structure cautious, as noted by The Hindu BusinessLine. A move above 24,300–24,400 could signal recovery, while a breach below the 24,000-23,800 zone would indicate further weakness. For Friday's rebound to extend, analysts say participation from banking and other heavyweight sectors will be essential alongside technology.
