Equity benchmark indices rebounded on Monday, supported by strong global cues and renewed hopes of a US Fed rate cut in September. By 1 p.m., the Sensex rose 407.68 points to 81,714.53, while the Nifty gained 120.95 points, reaching 24,991.05. Investor sentiment was boosted by IT stocks, with Infosys, TCS, HCL Tech, Wipro, and Tech Mahindra leading the Nifty50 gainers, surging up to 4% intraday. US Fed Chair Jerome Powell hinted at potential policy changes due to growing labour market concerns, prompting traders to factor in an 84% chance of a September rate cut. JPMorgan’s upgrade of TCS also lifted IT stocks, pushing the Nifty IT index over 2% higher. Asian markets traded positively, while US indices ended strongly on Friday. Meanwhile, the rupee appreciated by 18 paise to 87.34 against the US dollar, driven by firm domestic equities. However, market watchers remain cautious ahead of the August 27 tariff deadline and key US economic data.
Sensex Up 400 Points, Nifty Near 25,000
