CLOSED
NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%

Nifty Surges on IT Stocks, Global Cues, and Stable India Rating

By ThePip DeskNifty Surges on IT Stocks, Global Cues, and Stable India Rating

Nifty closes higher, driven by strong IT stock performance and positive global market cues. S&P Global affirms India’s stable ‘BBB’ rating, boosting investor confidence.

Nifty concluded Friday’s trading session with gains, primarily propelled by significant buying interest in IT stocks. The index successfully closed above the 24,150 level, marking a positive end to the week.

  • Nifty September 2026 futures settled at 24349.00 (LTP).
  • This represented a premium of 173.35 points over the spot closing.
  • The spot closing for the Nifty index was recorded at 24175.65.

Market Drivers

The positive momentum initiated with a strong start, tracking firm cues from global markets. Investor confidence in the AI sector was revived following Nvidia’s upbeat results and optimistic outlook, which in turn boosted tech stocks worldwide.

Further support came as S&P Global Ratings affirmed India’s sovereign rating at ‘BBB’ with a stable outlook. The agency highlighted India as a dynamic and fast-growing economy, supported by consistent policy stability and substantial infrastructure investment.

Intraday Trajectory

Despite the strong opening, the Nifty trimmed a significant portion of its gains during the afternoon session. Traders adopted a cautious stance, opting to remain on the sidelines in anticipation of India’s Index of Industrial Production (IIP) data for July, scheduled for release later in the day.

Towards the close of the session, the index managed to extend its gains once more, ultimately finishing above the critical 24,150 mark.

Sectoral Performance & F&O Movers

Market activity indicated a clear preference for certain sectors, while others experienced selling pressure. Positions were actively accumulated in key segments.

  • Sectors with Buying: IT, Metal, Pharma stocks.
  • Sectors with Selling: Chemicals, Cement, Consumer Durables.

Within the Futures & Options (F&O) segment, specific stocks emerged as top performers and underperformers for the day.

  • Top F&O Gainers: Ather Energy, Coforge, LTM.
  • Top F&O Losers: Bharat Dynamics, Jubilant Foodworks, TVS Motor Company.

Futures and Options Overview

Analysis of the index option segment revealed specific expectations for the Nifty’s trading range. Maximum Open Interest (OI) concentrations provide insights into potential support and resistance levels.

Maximum OI continues to be observed in the 24900 – 25100 calls and 23900 – 24100 puts, indicating the market’s expected trading range.

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