Sensex Rises 141 Points, Nifty Near 24,100 as IT Stocks Lead Friday’s Intraday Rally

The Sensex rose 141.12 points, or 0.18%, to 77,074.71 as of midday trading on Friday, August 28, 2026. The Nifty 50 added 11.60 points to trade at 24,102.45 during the same intraday window. IT stocks led the session as traders awaited Fed Chair Jerome Powell’s Jackson Hole address. These figures reflect an intraday snapshot around 2:00 PM IST, and levels may shift before the closing bell.

IT Stocks Drive the Rally

The Nifty IT index jumped more than 3% on Friday, sharply outperforming the broader market at midday. Tata Consultancy Services, Infosys, and Tech Mahindra ranked among the Nifty 50’s top gainers during the session so far.

• Nifty IT index: up over 3% intraday, the day’s best-performing sector
• Top Sensex gainers so far: TCS, Infosys, and Tech Mahindra leading the advance
• Broader market: Nifty MidCap up 0.03%, Nifty SmallCap up 0.16% at midday

The rally followed a rough Thursday session, when the Sensex closed 0.70% lower at 76,933.59, and the Nifty ended at 24,090.85.

Quantum Information Services Private Limited (Research Analyst) | INH000021128#EMMarkets – Sensex Today Trades Higher | Nifty Above 24,150 | HCL Tech & TCS Top Gainershttps://t.co/8Qxho60mGS

— Equitymaster (@Equitymaster) August 28, 2026

Investors Await Powell’s Jackson Hole Speech

Markets stayed cautious ahead of Federal Reserve Chair Jerome Powell’s highly anticipated address at the Jackson Hole Economic Policy Symposium. Traders are watching closely for signals on the Fed’s future interest-rate path. A hawkish tone from Powell later in the day could quickly reverse Friday’s midday gains across Indian equities.

Global Cues Stayed Mixed

Asian markets traded on a mixed note Friday morning, with Japan’s Nikkei and Topix posting gains. South Korea’s Kospi slipped 0.36%, while Hong Kong’s Hang Seng futures pointed lower. US index futures held largely flat overnight ahead of Powell’s remarks.

What Pushed Markets Lower on Thursday

Thursday’s decline came on mixed global cues and selling pressure in heavyweight stocks. Metal, banking, and FMCG stocks led sectoral losses that day, while pharma shares held up relatively well. Foreign institutional investors bought a modest Rs 298.26 crore worth of shares on August 27.

Domestic institutional investors were far more active buyers, purchasing Rs 4,977.17 crore in shares the same day. The rupee weakened 0.13% to close at 95.54 against the dollar on Thursday. That DII support helped cushion Thursday’s broader market decline.

Sector Rotation Remains in Focus

IT stocks have swung between gains and losses across the past several sessions this week. The sector fell over 1% on Wednesday on concerns tied to proposed US H-1B visa fees. Friday’s sharp intraday rebound suggests investors are rotating back into IT ahead of key US policy signals.

Wrap-Up

Friday’s midday rally reflects cautious optimism ahead of Powell’s Jackson Hole speech rather than a confirmed trend reversal. IT stocks staged a sharp intraday comeback after a volatile week of sector rotation. Powell’s tone this afternoon will likely determine whether these gains hold into the closing bell.

Disclaimer:

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