SENSEX surges over 350 points, NIFTY50 trades above 24,150 led by IT stocks

The Indian equity benchmarks were trading higher on Friday, August 28, led by gains in IT shares such as Infosys, Tata Consultancy Services, HCL Technologies, Tech Mahindra and Bharti Airtel. The SENSEX rose as much as 357 points and NIFTY50 index touched an intraday high of 24,166.

As of 9:42 am, the SENSEX was up 354 points 77,287 and NIFTY50 index advanced 72 points to 24,163.

Most of the Asian markets were trading mixed ahead of Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium later in the day.

Japan's Nikkei rose 0.7%, China's Shanghai Composite index was trading 0.08% higher, Hong Kong's Hang Seng index advanced 0.37% and South Korea's KOSPI declined 1%.

Back home, seven of 15 major sector gauges compiled by the National Stock Exchange (NSE) were trading higher led by the NIFTY IT index's nearly 3% surge. NIFTY Auto, Metal, Media, Realty and Pharma shares were also witnessing buying interest.

On the other hand, banking, financial services, FMCG, consumer durables and oil & gas shares were trading on a subdued note.

Broader markets were trading on a positive note as NIFTY Midcap 100 index rose 0.17% and NIFTY Smallcap 100 index advanced 0.24%.

Among the individual shares, Tejas Networks surged as much as 13% to hit an intraday high of ₹576.80 after the company said that it received a letter of intent dated August 27, 2026, from Tata Consultancy Services Limited (‘TCS’) for supply of RAN equipment, accessories & installation materials for BSNL 4G mobile network for 18,685 sites, valued at ₹1,537 crore.

TCS was top gainer in the NIFTY50 index, the stock rose 3.2% to ₹2,326. HCL Technologies, Infosys, Tech Mahindra, Wipro, Bajaj Auto, Trent, Hindalco, Power Grid and Apollo Hospitals also rose between 0.6% and 3.2%.

Ultratech Cement, Eternal, Adani Enterprises, Shriram Finance, Bajaj Finserv, ICICI Bank, JSW Steel, Grasim Industries, Max Healthcare and Bharat Electronics were top losers in the NIFTY50 index.

The overall market breadth positive as 1,732 shares were advancing while 1,295 were declining on the NSE.