Indian equities snapped a two-day slide on Friday, and almost the entire lift came from one sector — Nifty IT surged more than 3% after Nvidia's blowout quarter reassured investors that the AI capex cycle is still intact.

How India closed

• Nifty 50 settled at 24,176, roughly 85 points (~0.35%) above Thursday's 24,091 close, as reported by Business Standard.
• Sensex ended 331 points higher, snapping a two-day losing streak (Business Standard). Trading Economics had it at 77,233, up 0.39%, around the close.
• Bank Nifty — close not yet published at the time of writing. Banks were the drag: Nifty Private Bank and Nifty Financial Services were among the weakest indices through the session (DSIJ), with HDFC Bank still weighing.
• Broader market barely participated. Nifty Midcap 100 (+0.03%) and Smallcap 100 (+0.16%) were close to flat in mid-morning trade (DSIJ).

Why it moved

Nvidia's Q2 FY27 print — revenue up 106% YoY to $96.2 billion, net income more than doubled to $59.7 billion, EPS up 128% — drove Nasdaq 1.57% higher overnight and flowed straight into Indian IT. LTIMindtree rose 5%, Coforge, TCS and HCLTech about 4%, Infosys, Tech Mahindra and Persistent about 3% (Business Standard). Nifty IT is now up roughly 15% in two months. Metal and Media also outperformed; private banks and financials capped the gain. Traders also flagged volatility around the newly introduced closing-auction mechanism.

Sentiment read: cautiously risk-on, but narrow — one sector carried the benchmark while breadth stayed flat. That is a relief bounce, not a broad re-rating.

Flows, currency, commodities

• FII / DII (27 August, latest available — Friday's provisional data was not out at publication): FIIs net sellers of ₹298 crore; DIIs net buyers of ₹4,977 crore, per 5paisa.
• USD/INR around 95.55, up 0.04%, with the RBI keeping the pair boxed into a 95.40–95.75 weekly range (Trading Economics).
• Brent $88.02 (−0.56%), WTI $83.00 (−0.63%), Gold $4,584/oz (−0.35%), Silver $69.21 (−0.07%).

Global right now

Europe is firm: CAC 40 +0.97%, Euro Stoxx 50 +0.72%, DAX +0.51%, FTSE 100 +0.23%. US indications ahead of the cash open are mixed — Dow +0.22%, S&P 500 flat, Nasdaq −0.66%. Asia: Nikkei +0.53%, Hang Seng +0.03%, Shanghai −0.10% (Trading Economics).

Data on the tape

India: July IIP (consensus 7.3%) and manufacturing output, RBI weekly forex reserves, and bank credit, deposit and M3 growth are all due after the close. Q1 FY27 GDP lands shortly — Bank of Baroda projects 7–7.2% versus 6.8% a year earlier. Overseas tonight: US Chicago PMI (prev 57.6, cons 57), final Michigan sentiment (cons 51.0 vs 55.2) and inflation expectations (1-year 4.3%, 5-year 3.3%), plus Euro Area consumer confidence and economic sentiment.

Company corner

• Tempsens Instruments listed at ₹634 on the NSE, a 111% premium to its ₹300 issue price, after a 184x subscription.
• Wipro expanded its Google Cloud enterprise-AI partnership; Lenskart was in focus on a reported Alpha Wave block deal of up to 20.8 million shares; Jefferies rated SBI Funds Management a buy. Gainers included Tejas (+12.6%) and Ather Energy (+4.8%), per Trading Economics.

What to watch tonight and Monday

The event that matters is Fed Chair Kevin Warsh's first Jackson Hole speech at 10:00 am ET. Positioning has turned hawkish: traders put roughly one-in-three odds on a rate hike at the 16 September FOMC, and the 30-year Treasury yield sits at 5.31%, its highest since 2007. If Warsh leans into sticky inflation, the rupee and FII flows are where India feels it first on Monday. If he leans on the softening labour market instead, today's IT-led risk appetite has room to broaden into the banks that sat this one out. India's IIP and GDP prints are the domestic counterweight.

As of 4:00 PM IST, 28 August 2026. Sources: Business Standard (market close), Business Standard (Nifty IT), Business Today (Nvidia results), Business Standard (Tempsens listing), Trading Economics (indices), Trading Economics (commodities), Trading Economics (calendar), DSIJ (sectors), 5paisa (FII/DII), Central Jersey (Jackson Hole). All levels are as reported by these sources, not MarketChacha real-time exchange data. Automated market wrap for discussion and education only — not investment advice. Verify before acting.