The Nifty 50 index opened on a strong note Monday, led by heavy buying in technology stocks. By mid-morning, the benchmark was holding close to 24,992, comfortably above the 24,800 support zone, as traders rotated into defensives after last week’s volatility.
Who are the Nifty 50 Top Gainers Today?
IT names dominated early trade. Wipro surged nearly 2.9% to ₹255.80, supported by its recent acquisition of Harman’s Digital Transformation Solutions unit. TCS added 2.5% to ₹3,131.00, extending gains after announcing a fresh partnership with Finland’s Kesko. Infosys rose 2.3% to ₹1,521.50, backed by its joint venture with Telstra. HCL Tech gained 1.6% to ₹1,489.80, while Hindalco advanced 1.5% to ₹714.65
Analysts say the surge in IT reflects rotational buying, with investors positioning ahead of global central bank updates and domestic GDP data due later this week. Metals, meanwhile, offered support through Hindalco, though banking stocks stayed mixed.
Nifty 50 Technical Analysis
- Nifty price: 24,992
- resistance: 25,344
- Support zones: 24,797
What’s Driving Nifty 50’s Bounce Today?
The rally isn’t coming out of thin air. It ties back to last Friday, when Fed Chair Jerome Powell signaled the possibility of a rate cut as early as September. That hint set off a global shift in sentiment, and the momentum has carried into Monday’s session. Indian IT stocks are at the center of it, with investors seeing them as a safe play while global growth signals remain mixed.
On the home front, confidence is getting an extra push from fresh deal wins and updates at Infosys, TCS, and Wipro. The divergence is telling: the Nifty IT index has surged nearly 5 percent over the past week, while the broader Nifty 50 managed less than 1 percent. It’s clear where money is flowing, into tech as the defensive pocket of the market.
Put together, the rise rests on both global cues and corporate strength. With the index parked just under the 25,000 line, the bigger test is still overhead at 25,344. A clean breakout could quickly carry momentum toward 25,800. But if buyers lose grip, the 24,800–24,900 area will again decide whether this bounce has staying power.
Conclusion
The rebound underscores resilience in IT after a mixed August. Global risk sentiment remains cautious, but with the Fed signaling a potential shift in rates and Indian corporates announcing fresh deals, traders are willing to add exposure to large-cap tech.
With the index parked just under the 25,000 mark, all eyes are on whether Nifty can convert today’s IT-led bounce into a sustained breakout.
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