Morning Brief: Nifty Rises 0.35% to 24,175; IT Sector Surges, FIIs Remain Net Sellers | 31 Aug 2026, 08:16 AM IST
By ThePip Desk
Indian equities saw a positive close on Friday, with the Nifty 50 ending at 24,175.65, driven by strong performance in the IT sector despite continued net selling by Foreign Institutional Investors.
Indian equities closed Friday’s session in positive territory, with the Nifty 50 advancing to 24,175.65. Domestic Institutional Investors provided crucial support, offsetting persistent selling pressure from Foreign Institutional Investors.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 24,175.65 (+0.35%) |
| Nifty Bank | 57,496.30 (-0.02%) |
| Nifty Midcap 100 | 64,069.50 (+0.05%) |
Institutional Flows
Foreign Institutional Investors (FIIs) were net sellers on Friday, offloading equities worth ₹5,039.8 crore. In contrast, Domestic Institutional Investors (DIIs) provided strong buying support, with net purchases amounting to ₹5,183.93 crore.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-08-28 | -5,039.80 | 5,183.93 |
| 2026-08-27 | -298.26 | 4,977.17 |
| 2026-08-26 | 502.63 | 6,425.16 |
| 2026-08-25 | 1,593.53 | 230.26 |
| 2026-08-24 | 1,181.66 | 2,493.41 |
A deeper look into SEBI data reveals FIIs were net buyers in equities by ₹874.93 crore on Friday, while they were net sellers in the debt market by ₹599.37 crore.
Sector Performance
The IT sector led the gains on Friday, with Nifty IT surging over 3.5%. Pharma and PSU Banks also saw positive momentum.
| Sector | Last |
|---|---|
| Nifty IT | 31,281.70 (+3.51%) |
| Nifty Pharma | 26,991.85 (+0.53%) |
| Nifty PSU Bank | 8,604.30 (+0.19%) |
| Nifty Financial Services | 26,286.50 (+0.02%) |
| Nifty Realty | 908.85 (-0.08%) |
| Nifty Auto | 28,851.80 (-0.11%) |
| Nifty FMCG | 46,815.00 (-0.46%) |
Top Movers
IT majors dominated the Nifty 50 gainers, reflecting the sector’s strong performance. Financials and consumer goods companies were among the top losers.
Top Gainers
| Symbol | Company | Last |
|---|---|---|
| TCS | Tata Consultancy Services Ltd. | 2,342.00 (+4.16%) |
| TECHM | Tech Mahindra Ltd. | 1,640.90 (+3.53%) |
| INFY | Infosys Ltd. | 1,144.00 (+2.99%) |
| HCLTECH | HCL Technologies Ltd. | 1,316.10 (+2.66%) |
| WIPRO | Wipro Ltd. | 180.95 (+2.58%) |
Top Losers
| Symbol | Company | Last |
|---|---|---|
| ICICIBANK | ICICI Bank Ltd. | 1,422.80 (-1.40%) |
| SHRIRAMFIN | Shriram Finance Ltd. | 1,086.90 (-1.28%) |
| ITC | ITC Ltd. | 266.00 (-1.12%) |
| ULTRACEMCO | Ultratech Cement Ltd. | 11,589.00 (-1.09%) |
| ASIANPAINT | Asian Paints Ltd. | 2,608.70 (-0.85%) |
Economy & Macro
S&P Global Ratings has affirmed India’s sovereign rating at ‘BBB’ with a stable outlook, citing the country’s dynamic and fast-growing economy, supported by policy stability and high infrastructure investment. Bilateral trade between India and Japan is projected to reach $50 billion by 2030, a significant increase from $27.47 billion in 2025-26. Union Commerce and Industry Minister Piyush Goyal highlighted India’s potential as a key data centre hub, noting investment commitments of approximately $200 billion from major global hyperscalers.
RBI & Policy
India’s industrial growth slowed to 6.7% in July 2026, down from a revised 8.8% in June, primarily due to a contraction in mining activity and a deceleration in manufacturing. Despite this, the private corporate sector showed resilience, with aggregate sales of listed non-financial companies growing by 19.4% year-on-year in Q1 FY27. The Department of Commerce announced India’s commitment to finalizing a Comprehensive Economic Partnership Agreement (CEPA) with Chile by the end of this year.
Corporate Actions
- Thirumalai Chemicals Ltd. informed about the outcome of its Fund Raising Committee Meeting.
- Mold-Tek Technologies Ltd. submitted its Annual Report.
- The Federal Bank Ltd. announced the allotment of ESOP / ESPS.
- Mankind Pharma Ltd. reported a change in its management.
- Manjeera Constructions Ltd. and Jauss Polymers Ltd. held their Annual General Meetings.
- Le Lavoir Ltd. announced a change in its Directorate.
- Krishna Institute of Medical Sciences Ltd shared its Scrutinizer’s Report from a shareholder meeting.
Company News
- The USFDA completed an inspection at Aurobindo Pharma’s Andhra Pradesh facility, concluding with three procedural observations.
- Kabra Extrusiontechnik is set to commence production of Battery Packs for Four-Wheeler Passenger Vehicles, expanding its new energy product portfolio.
- Waaree Energies’ arm secured a Letter of Award for a 700 MW solar and 700 MW ESS project in Maharashtra from Solar Energy Corporation of India.
IPO Watch
The primary market is active with several Initial Public Offerings opening today or closing soon:
Open Today (August 31, 2026)
- Purple Style Labs Ltd.: Price band ₹546-575 per share.
- Shanti Inorganics Ltd.: Price band ₹79-83 per share.
- Ashutosh Fibre Ltd.: Price band ₹87-92 per share.
- Phychem Technologies Ltd.: Price band ₹51-54 per share.
Still Open (Closing September 1, 2026)
- Complete Sports and Management India Ltd.: Price band ₹128-135 per share.
- Paluck Technologies Ltd.: Price band ₹46-48 per share.
- Priority Jewels Ltd.: Price band ₹190-200 per share.
- ESDS Software Solution Ltd.: Price band ₹408-429 per share.
Closing Today (August 31, 2026)
- Lumino Industries Ltd.: Price band ₹78-82 per share.
- Kwick Forensic Solutions Ltd.: Price band ₹85-90 per share.
Upcoming (Opening September 1, 2026)
- Rays Of Belief Ltd.: Price band ₹227-239 per share.
- Farm Peace Ltd.: Price band ₹59 per share.
- Deepa Jewellers Ltd.: Price band ₹168-177 per share.
Mutual Fund News
Motilal Oswal Mutual Fund has launched a new Quality Fund, while Bank of India Mutual Fund introduced a Value Fund. Both New Fund Offers (NFOs) opened for subscription on August 28, 2026, and will close on September 11, 2026.
Bond Markets
Bond yields saw a marginal uptick on Friday, with the yields on the new 10-year Government Stock trading slightly higher than its previous close.
The resilience of domestic institutional buying continues to be a key counterweight to FII selling, underpinning market stability amidst global economic shifts.
Your portfolio should note the strong outperformance of the IT sector, which could signal shifting investor preferences or a response to specific industry tailwinds.