Sensex Stays In Green At Noon, IT Rally Supports Dalal Street

Mumbai: Indian equity benchmarks traded higher on Friday, August 28, recovering from the previous session’s weakness as buying in information technology stocks supported sentiment.

Around 12:30 pm, the BSE Sensex was trading 193.02 points, or 0.25 per cent, higher at 77,126.61. The NSE Nifty 50 gained 33.80 points, or 0.14 per cent, to 24,124.65.

The Sensex opened at 77,128.05 against Thursday’s close of 76,933.59. During the session, the benchmark touched a high of 77,357.97 and a low of 77,043.34.

Information technology shares led the gains, with Tech Mahindra, Tata Consultancy Services and Infosys among the prominent performers.

The Nifty IT index advanced more than 1 per cent, outperforming the broader market. Metal and media shares also attracted buying, while private banking and financial services stocks remained under pressure.

Broader markets were relatively subdued. The Nifty MidCap index gained around 0.03 per cent, while the Nifty SmallCap index advanced 0.16 per cent.

Investors remained cautious ahead of US Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium, with markets awaiting signals on the future direction of US interest rates.

Crude oil prices also remained on investors’ radar, with Brent trading above $89 per barrel amid uncertainty surrounding the Strait of Hormuz.

On Thursday, the Sensex had declined 539.35 points, or 0.70 per cent, to 76,933.59, while the Nifty dropped 116.90 points, or 0.48 per cent, to settle at 24,090.85.