SENSEX trades 250 pts higher in early trade, NIFTY50 tests 24,950; IT stocks shine

Stock market today: On the SENSEX, out of 30 components, 39 companies were trading in the green. The top gainers were Infosys (up over 2%), TCS (up 2%), and Tech Mahindra (up 1.62%). Stock market today: As indicated by the GIFT NIFTY futures, the domestic stock market opened with decent gains on Monday, August 25. In the early trade, the S\&P BSE SENSEX was trading at 81,581.80, up 274.95 points, or 0.34%, while the NSE's NIFTY50 index was quoting 79.35 points, or 0.32%, higher at 24,949.45 levels. The stocks rallied owing to the positive global cues. Asian share markets rose in the early trade as investors gave a cautious welcome to the likely resumption of US interest rate cuts. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.1%, led by a further 1% rise in Chinese blue chips. On Friday, Wall Street's main indexes ended higher, with the blue-chip Dow hitting a record closing high, as investor sentiment got a boost after US Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech. His comments paved the way for a potential rate cut at the Fed's September meeting, although Powell stressed the importance of jobs and inflation data due before then. Market updates On the SENSEX, out of 30 components, 39 companies were trading in the green. The top gainers were Infosys (up over 2%), TCS (up 2%), and Tech Mahindra (up 1.62%). On the flip side, Bharti Airtel (down 0.7%) was the biggest loser. Stocks in news YES Bank shares were trading 2.5% higher at ₹19.76 apiece on the BSE after the private sector lender on Saturday said the RBI has accorded approval to Japan-based Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to a 24.99% stake in the lender. The development follows the May 9, 2025, disclosure of Yes Bank about the SMBC's proposed acquisition of a 20% holding in the lender through a secondary stake purchase of a 13.19% stake from the State Bank of India and a 6.81% share from seven other shareholders. Mazagon Dock Shipbuilders was trading 1.77% higher at ₹2,748 apiece on the NSE. According to news reports, after being stuck for over six months, the Centre has given clearance to the Defence Ministry and Mazagaon Dockyards Limited to begin negotiations for the deal to buy six submarines to be built in India with German support under ‘Project 75 India’. Foreign Institutional Investors (FIIs) continued their selling spree in August, offloading equities worth ₹25,751 crore by August 22. This took the total equity selling by FIIs this year to over ₹1,55,000 crore, data show.