The Nifty 50 and Sensex rose after two losing sessions, with technology shares tracking Nvidia’s advance. Uneven sector performance and concern over a new closing-auction system limited the move.
Indian shares moved higher Friday after two sessions of declines, led by information-technology stocks following a sharp overnight gain in Nvidia shares.
The Nifty 50 was up 0.22% at 24,144.90 and the BSE Sensex had gained 0.36% to 77,216.23 as of 10:06 a.m. in Mumbai, Reuters reported. The IT index climbed 3%, with each of its 10 members advancing.
The rise came after Nvidia reported results that investors viewed as supportive of continued demand tied to artificial intelligence, according to Devarsh Vakil, head of prime research at HDFC Securities.
The broader market picture remained mixed. Ten of India’s 16 major sector indexes were lower, while small-cap and mid-cap indexes each added 0.2%. The Nifty and Sensex had each fallen about 1% over the prior two sessions and were on track for a third consecutive weekly loss, amid higher oil prices and U.S. Treasury yields.
Investors were also watching comments on inflation due later Friday from U.S. Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.
Trading conditions remained a concern after Thursday’s monthly derivatives expiry on the BSE. Turnover was the lowest for such a session in 11 months, and the Sensex’s indicative closing level briefly fell more than 3% during an erratic closing auction before the index finished the day down 0.7%.
Among individual companies, Ather Energy rose 4.5% after Hero MotoCorp increased its holding in the electric two-wheeler maker to 32.8% through a $184 million share purchase. Tejas Networks gained 9% after securing an order from Tata Consultancy Services.
