The Sensex rose 331 points as IT stocks rallied on Nvidia's earnings boost. Markets now await Fed Chair Powell's Jackson Hole speech for rate-path clarity.
Indian equity benchmarks snapped a two-day losing streak on Friday, driven by a rally in IT stocks after Nvidia's quarterly report reinforced confidence in AI-related spending.
The BSE Sensex climbed 330.92 points, or 0.43%, to settle at 77,264.51. The NSE Nifty gained 84.80 points, or 0.35%, to close at 24,175.65.
Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech, Titan, and Eternal led gains among Sensex constituents. ICICI Bank, UltraTech Cement, Asian Paints, and ITC lagged.
"Strong gains in IT stocks helped Indian equities close higher today," said Vinod Nair, Head of Research at Geojit Investments Ltd. "The sector was supported by Nvidia's strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments and benefited firms involved in enterprise AI deployment and workflow integration."
Nair said investor participation remained "selective" as markets awaited comments from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium for clarity on the U.S. interest-rate outlook and global liquidity conditions.
Foreign institutional investors sold equities worth Rs 298.26 crore on Thursday, exchange data showed.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index ended lower, while Japan's Nikkei 225 and Hong Kong's Hang Seng index settled higher. Brent crude dipped 0.17% to $89.63 per barrel.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.