Indian equity markets ended higher on Friday, August 28, snapping a two-session losing streak, as a sharp rally in heavyweight IT stocks helped lift the benchmark indices.
The NSE Nifty50 closed at 24,175.65, up 84.80 points, or 0.35%, while the BSE Sensex settled at 77,264.51, gaining 330.92 points, or 0.43%.
Buying interest extended to the broader markets, with the Nifty Midcap100 and Nifty Smallcap100 indices ending 0.05% and 0.20% higher, respectively.
Among sectors, the Nifty IT index emerged as the top performer, surging more than 3.5% during the session. The Nifty Metal index also gained 0.75%. In contrast, the Nifty FMCG and Nifty Consumer Durables indices declined nearly 0.5% each.
The India VIX, which measures expected market volatility, fell 3.72% to settle at 10.66.
Market breadth was positive, with 1,918 stocks advancing on the NSE against 1,561 declines, while 124 stocks remained unchanged.
Analysts expect Indian equities to trade within a broader range amid a lacklustre market environment, mixed global cues and persistent geopolitical tensions. Brent crude has cooled to around $88 a barrel, down about 8% over the past nine days. Investors are also awaiting further clarity on geopolitical developments, while key global and domestic macroeconomic triggers are expected to guide market direction.
