Sensex & Nifty Rebound on IT Surge, Global Cues Boost Markets
NEWZA Editorial Team••Source: MoneyControl
NEWZAFinancial Intelligence Feed
⚡ Key Financial Takeaways
Sensex 0.43% rise to 77,264.51; Nifty 0.35% rise to 24,175.65.
IT sector led gains with Nifty IT index up 3%; TCS, Infosys, HCL Tech gained 2‑4% each.
India VIX fell to 10.97, and positive global cues, including the Fed’s Jackson Hole speech, lifted sentiment.
Market Overview The benchmark indices closed higher on Friday after two days of losses, with the Sensex up 0.43% at 77,264.51 and the Nifty up 0.35% to 24,175.65. The rally was driven by sharp buying in technology stocks and supportive global market cues.
Drivers of the Rally IT stocks were the main catalyst, as the Nifty IT index jumped 3%, with giants like TCS, Infosys and HCL Technologies each posting gains of 2‑4%. Nvidia’s strong quarterly results sparked a broader AI‑linked rally in U.S. markets, which in turn lifted Indian IT names. Value buying also returned to the market after two sessions of decline, while the India VIX dropped to 10.97, signalling reduced volatility expectations. Global cues were positive: Japan’s Nikkei, China’s SSE Composite and Hong Kong’s Hang Seng all finished higher, and U.S. indices ended the week on an up‑trend.
Outlook Ahead Investors are now watching the Federal Reserve Chair’s keynote at the Jackson Hole Symposium, where comments on inflation and U.S. interest rates could sway global sentiment. The lower VIX and the recent tech rally provide a supportive backdrop, but market participants remain cautious ahead of the Fed’s speech. Stocks like Ather Energy and Tejas Networks saw significant gains following corporate developments, adding to the overall optimism. Overall, the market is poised for a cautious but potentially upward trajectory as global and domestic factors converge.
