Stock Market Updates Today: Nifty Sensex Close Higher; IT, Metal, Pharma Emerge Top Sectors

UdaipurTimes, Aug 28, 2026 | Stock Market Updates: Indian benchmark indices traded in a choppy range throughout the session but managed to close in positive territory and near the day's highs. Despite the positive close, Brent crude oil prices sustaining above the $85 per barrel level remained a key concern for investors, keeping the overall sentiment cautious. Market participants are also expected to closely track the Jackson Hole symposium over the weekend for cues on the global monetary policy outlook and the direction of interest rates.

 At close, the Nifty 50 gained 0.35% to settle at 24,175, while the Sensex advanced 0.43% to close at 77,264.

On the sectoral front, Nifty IT, Metal, and Pharma emerged as the top-performing sectors, supported by selective buying interest. On the downside, Nifty FMCG, Energy, and Auto remained the key laggards, witnessing profit booking during the session.

The broader market remained resilient, with the Nifty Smallcap 100 gaining 0.20% and continuing to trade near its all-time high levels. The Nifty Midcap 100 index remained largely flat, edging up 0.05%, indicating selective participation across the broader market.

 Nifty Outlook

Index formed a bullish candle which mostly remained contained inside previous session price range signaling consolidation amid stock specific action.

A move Friday’s high and 50 days EMA placed around 24,190 will open pullback towards 24,300-24,350 levels in the coming sessions. While a breach below weekly low of 24,076 will signal testing of the major support area of 24,000-23,800.

Overall, we expect the index to extend the recent consolidation and trade in the broad range of 23,800-24,600 amid stock specific action. Within the consolidation last two-week highs placed around 24,380 will be the immediate hurdle for the index only a move above the same will signal positive movement. Failure to move above the same will keep the bias corrective.

Nifty has key support at 24,000-23,800 levels being the confluence of the trendline support joining last 4 months lows, previous major gap area and 61.8% retracement of previous up move from 23,606 to 24,774.

Bank Nifty Outlook

Bank Nifty formed a high wave candle with shadows in either direction signaling consolidation around the 50 days EMA.

The broader 9 weeks consolidation range remains intact between 56,500 and 58,700. We expect the index to extend the current consolidation and only a breakout or breakdown will signal a directional momentum.

Within the consolidation index is facing resistance around 58,000 levels. Failure to move above 58,000 levels will signal consolidation in the range 57,000-58,000 levels in the coming sessions

In the smaller time frame Bank Nifty in the last 18 sessions is seen consolidating in a narrow range retracing just 50% of its previous 7 sessions up move from 56,023 to 58,248. A shallow retracement signals higher base formation.

Index has key short-term support at 56,500 levels being the confluence of the 52 weeks EMA and the lower band of the last 9 weeks range.