The Indian stock market closed deep in the green on Friday as a sharp surge in heavyweight IT stocks helped the market record gains after a two-day losing streak. Sensex gained 331 points to close at 77,264 while Nifty 50 rose around 85 points to end the session at around 24,176 on Friday.

“Investors are awaiting further clarity on geopolitical developments, while key global and domestic macro triggers are likely to guide market direction. Domestic equities ended largely flat,” he said, adding that Fed Chair Kevin Warsh's comments on inflation later today at the Jackson Hole Symposium will be keenly watched.

His remarks could influence expectations for global interest rates and Indian policy rates, particularly after the hawkish tone of the RBI's August minutes revived expectations of domestic rate hikes, the analyst explained. US stocksUS stocks ended lower on Friday after Federal Reserve Chair Kevin Warsh reiterated the central bank’s commitment to bringing inflation back to its 2% target, prompting investors to reassess expectations of a September rate move, Reuters reported.

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European marketsEuropean shares rose on Friday, with French stocks rebounding from a selloff as investors assessed Fed Chair Kevin Warsh’s Jackson Hole speech. Tech viewNifty moved back into the rising channel following a volatile session; however, the trend remains far from bullish, as the index continues to trade below the 50EMA, said Rupak De, Senior Technical Analyst at LKP Securities.

“On the upside, the 24,200 level may continue to act as an immediate resistance. As long as the index remains below 24,200, the broader sentiment is likely to stay weak, with a possibility of a decline towards 23,900 in the near term.

A fall below 23,900 could trigger further correction. On the other hand, a decisive move above 24,200 may lead to an improvement in market sentiment and might strengthen the near-term trend,” according to the analyst..

Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day. 52-week highAmong the ones that hit their 52-week highs on NSE were Ather Energy, PTC Industries, Coforge, Shyam Metalics, Oracle, HFCL and Glenmark Pharma.

52-week lowAmong the stocks that hit their 52-week lows on NSE were Aditya Birla Retail, PI Industries, Groww, ITC, IRFC, RVNL and Inox Wind. Sentiment meter favours bullsOf the 3,603 stocks that traded on the NSE on Friday, August 28, 1,918 stocks advanced, 1,561 saw declines, while 124 stocks remained unchanged..