IT stocks lead Sensex surge; Nifty eyes 25,000

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The Sensex climbed 329 points to 81,635, while the Nifty gained 98 points to close at 24,968, just below the 25k mark.

The rally was powered by IT stocks, with Infosys and TCS jumping nearly 3% each after Fed Chair Jerome Powell signaled a possible U.S. rate cut in September. Metal stocks also firmed, supported by a weaker dollar.

However, mid- and small-caps gave up gains as caution was set in ahead of Trump’s 25% tariff on Indian goods, effective August 27.

Experts say sentiment stays positive above 24,800, with the near-term Nifty range seen at 24,800–25,150.

Globally, Asian markets touched multi-year highs, while oil edged up on concerns over Russian supply. The rupee, meanwhile, slipped slightly to 87.58 per dollar.