Indian benchmark indices, the Nifty and Sensex, opened on a positive note on August 26, following upbeat investor sentiment after US Fed Chair Jerome Powell hinted at a potential rate cut next month.
By 9:20 am, the Sensex had gained 291.65 points, or 0.36 percent, reaching 81,377.86, while the Nifty rose by 81.50 points, or 0.33 percent, to 24,904.70. Market breadth was positive, with 2,049 shares advancing, 897 shares declining, and 145 remaining unchanged.
The broader market saw stronger gains, with mid-small-cap indices rising by 0.3 and 0.5 percent, respectively. These indices outpaced the benchmark Nifty’s year-to-date gain of 14 percent.
Bharat Electronics and Trent were in focus as they were added to the Nifty 50 index, effective from September 30, after the NSE Indices’ semi-annual review. Bharat Electronics has an average free-float market capitalization of Rs 89,317 crore, while Trent’s stands at Rs 99,364 crore.
Sector-wise, Nifty IT led the gains with over a 1 percent rise, supported by TCS, Infosys, and Tech Mahindra. Meanwhile, Nifty Pharma and Realty lagged, each slipping by 0.5 percent.
In global markets, Asian shares edged higher, supported by optimism for rate cuts in the US and Europe. Japan’s Nikkei fell by 0.7 percent, while Australia’s S&P/ASX 200 and Hong Kong’s Hang Seng index posted gains. The US markets had also closed higher following Powell’s dovish comments.
