Nifty 50 and Futures Trade Higher on IT Sector Buying on August 28, 2026

NEW DELHI: The Nifty 50 index opened higher at 24,123 on August 28, 2026, compared to its previous close of 24,091. The index advanced further during the session, hovering around the 24,150 mark to trade up 0.25 per cent. The advance-decline ratio stood at 26 gainers to 24 losers.

IT stocks drew significant buying interest, driving the Nifty IT sector up by 3 per cent to become the best-performing sector of the session. Major gains were led by TCS and HCL Technologies, which rose 3.5 per cent each, followed by Tech Mahindra and Infosys, each up 2.7 per cent.

Conversely, the cement sector faced downward pressure. Nifty Cement emerged as the top losing sector, down 0.8 per cent. UltraTech Cement led the individual losses, falling 1.4 per cent, followed by Shriram Finance, which was down 0.7 per cent.

In the derivatives segment, the September expiry Nifty futures contract opened at 24,293 against Thursday's close of 24,282. The contract traded near the lower end of the 24,250-24,500 range at 24,320, registering an increase of nearly 0.2 per cent. Market charts indicated that the Nifty 50 was hovering near a support level where trendlines coincide, creating potential for an intraday recovery.

Trading projections suggest that a recovery from the 24,320 level could push Nifty futures up to 24,430, with a potential breakout extending toward 24,500. On the downside, a breach of the 24,250 support level could trigger a downswing toward 24,120 and potentially extend down to 24,000.

"Market movements driven by sectoral outperformance, such as the buying interest seen in IT stocks today, highlight the importance of sector-specific analysis for short-term positioning. When key indices hover near crucial support levels alongside a balanced advance-decline ratio, it reflects cautious optimism among market participants. Traders and investors must maintain disciplined risk management, keeping strict stop-losses in place while navigating intraday volatility." — Dr. Shishir Gupta, Founder & CEO, StartupLanes