Nifty Rebounds as IT Leads; Bank Nifty Remains Weak

Nifty gained 84 points on August 28 as IT stocks rallied, while Bank Nifty remained under pressure despite a recovery in HDFC Bank shares. Nifty 50 closed on Friday, August 28, 2026, up 84 points, or 0.35%, recovering from the weekly low near the psychologically important 24,000 level. The rise followed two consecutive negative closes and indicated some underlying buying interest in the market. Nifty IT emerged as the day’s top-performing sector, with all its constituents ending in the green. Coforge led the gains, rising 5.93%, while LTIMindtree and

advanced more than 4% during the session. In contrast, Bank Nifty ended in the red despite heavyweight HDFC Bank recovering more than 1.3%. HDFC Bank touched a two-year low of ₹707 during Friday’s trade before recovering. For the week ended August 28, Bank Nifty remained under pressure, closing lower in four sessions and recording only one positive close. While Friday’s rebound provided some relief for benchmark indices, continued weakness in banking stocks suggests that investors may remain cautious as they assess market direction and risk appetite in the coming sessions. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.