Closing Bell: Nifty 50 Gains Modestly as IT Stocks Drive Market; Bank Nifty Declines | 28 Aug 2026, 03:45 PM IST
By ThePip Desk
Indian equities closed mixed on Friday, 28 August 2026. The Nifty 50 settled at 24142.45, up 0.21%, primarily boosted by strong performance in IT stocks. Bank Nifty, however, saw a slight decline.
Indian equity markets concluded Friday, 28 August 2026, with a mixed performance across key indices. The benchmark Nifty 50 posted modest gains, primarily driven by strong activity in the IT sector, while the Nifty Bank index registered a slight decline. These are the final settled closing figures for the session. The Nifty 50 closed at 24142.45, marking an increase of +51.60 points or +0.21%. In contrast, the Nifty Bank settled lower at 57432.25, down −77.70 points or −0.14%. The NIFTY Midcap 100 also ended the day in positive territory, closing at 64085.45 with a gain of +50.00 points or +0.08%, indicating a somewhat broader positive sentiment in the mid-cap space despite the mixed large-cap picture.
Index Performance at a Glance
| Index | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 24142.45 | +51.60 | +0.21% |
| Nifty Bank | 57432.25 | −77.70 | −0.14% |
| NIFTY Midcap 100 | 64085.45 | +50.00 | +0.08% |
IT Sector Fuels Nifty Gains with AI-Driven News
The information technology sector emerged as a significant driver of today’s market performance, with several major IT companies featuring prominently among the top gainers. Tata Consultancy Services Ltd. (TCS) led the pack, surging +4.16% to close at ₹2342. This strong performance followed news of TCS’s strategic move to acquire 100% of MHP Management- und IT-Beratung GmbH, Porsche’s Germany-based management and IT consulting subsidiary, aimed at accelerating AI-powered mobility solutions. Additionally, TCS launched its Agentic AI platform, ‘TCS ADD AgentHub’, designed to transform clinical trials and pharmacovigilance services while maintaining regulatory and audit requirements, signaling a strong focus on advanced AI applications.
Other IT heavyweights also posted substantial gains, reflecting broader positive sentiment in the technology space. Tech Mahindra Ltd. (TECHM) advanced +3.12% to ₹1634.4, propelled by its partnership with Uniphore to co-build and deliver agentic AI solutions for enterprise clients globally. Infosys Ltd. (INFY) rose +2.90% to ₹1143 after collaborating with Knorr-Bremse to accelerate AI-enabled enterprise transformation, leveraging its SAP, data, engineering, PLM expertise, and AI-led capabilities powered by Infosys Topaz. Wipro Ltd. (WIPRO) and HCL Technologies Ltd. (HCLTECH) also saw strong upticks of +2.89% and +2.64%, respectively, underscoring the sector’s robust performance.
Top Movers of the Day
| Gainers | Close (₹) | Change% | Losers | Close (₹) | Change% |
|---|---|---|---|---|---|
| Tata Consultancy Services Ltd. (TCS) | 2342 | +4.16% | Asian Paints Ltd. (ASIANPAINT) | 2595 | −1.37% |
| Tech Mahindra Ltd. (TECHM) | 1634.4 | +3.12% | SBI Life Insurance Company Ltd. (SBILIFE) | 1750 | −1.31% |
| Infosys Ltd. (INFY) | 1143 | +2.90% | ITC Ltd. (ITC) | 265.5 | −1.30% |
| Wipro Ltd. (WIPRO) | 181.5 | +2.89% | ICICI Bank Ltd. (ICICIBANK) | 1425.2 | −1.23% |
| HCL Technologies Ltd. (HCLTECH) | 1315.9 | +2.64% | Ultratech Cement Ltd. (ULTRACEMCO) | 11584 | −1.14% |
| Bajaj Auto Ltd. (BAJAJ-AUTO) | 11925 | +1.75% | Shriram Finance Ltd. (SHRIRAMFIN) | 1088.8 | −1.11% |
| HDFC Bank Ltd. (HDFCBANK) | 719.5 | +1.20% | Bajaj Finserv Ltd. (BAJAJFINSV) | 1992.6 | −0.92% |
| Hindalco Industries Ltd. (HINDALCO) | 1035 | +1.07% | Eicher Motors Ltd. (EICHERMOT) | 8030 | −0.86% |
| Apollo Hospitals Enterprise Ltd. (APOLLOHOSP) | 8871 | +0.81% | JSW Steel Ltd. (JSWSTEEL) | 1326.6 | −0.81% |
| Hero MotoCorp Ltd. (HEROMOTOCO) | 5588 | +0.68% | Bajaj Finance Ltd. (BAJFINANCE) | 1075 | −0.74% |
Beyond the IT sector, Bajaj Auto Ltd. (BAJAJ-AUTO) saw a respectable gain of +1.75%, contributing to the broader market’s positive momentum. HDFC Bank Ltd. (HDFCBANK) also advanced +1.20%. However, the financial sector as a whole experienced some pressure, as reflected by the Nifty Bank’s decline and ICICI Bank Ltd. (ICICIBANK) dropping −1.23%. Among the top losers, Asian Paints Ltd. (ASIANPAINT) recorded the steepest decline, falling −1.37%. Other notable decliners included SBI Life Insurance Company Ltd. (SBILIFE) down −1.31%, and ITC Ltd. (ITC) losing −1.30%, alongside cement major Ultratech Cement Ltd. (ULTRACEMCO) which shed −1.14%.
Institutional Investor Activity Signals Divergence
Foreign Institutional Investors (FIIs) were net sellers in today’s session, offloading equities worth ₹298.26 crore. This marks a continuation of a mixed trend for FIIs this week, following net purchases of ₹502.63 crore on August 26 and a more substantial ₹1593.53 crore on August 25. Domestic Institutional Investors (DIIs), however, provided strong and consistent buying support, with net purchases totaling ₹4977.17 crore today. This robust DII activity has been a consistent feature, with DIIs recording significant net purchases of ₹6425.16 crore on August 26 and ₹230.26 crore on August 25, largely offsetting FII outflows and underpinning domestic market stability.
Ahead of Tomorrow’s Open
As the trading week concludes, investors will continue to monitor global economic indicators and any further corporate developments that could influence market sentiment. The sustained momentum in the IT sector, particularly driven by advancements in AI and strategic partnerships, will remain a key area of focus moving into the next trading week. Attention will also be on the broader financial sector to see if the Nifty Bank can regain positive momentum.