Wipro Opening Bell Updates: Shares Gain 1% on Global Tech Tailwinds
Wipro (WIPRO) share price rises by +1.84% to ₹179.65 in early trade, driven by positive global tech cues despite domestic sector headwinds and recent bearish analyst notes, according to this stock update.
Wipro shares closed yesterday's session at ₹176.40, and early indications point towards a positive opening today at ₹178.25, marking an initial gain of approximately 1.05%. The stock has already touched an intraday high of ₹180.20, suggesting early buying interest, though it remains to be seen if this momentum can be sustained in a broader market that is expected to open cautiously. Initial sentiment appears mixed, balancing the positive global tech cues with underlying concerns in the domestic IT sector.
| WIPRO – Stock Updates as of (9:39AM, 28 Aug 2026) | |||
LTP ₹179.65 | Open ₹178.25 | High ₹180.20 | Low ₹178.25 |
52W High ₹0.00 | 52W Low ₹0.00 | Volume 3,040,098 | % Chg +1.84% |
Overnight & Global Cues
Global markets provided a generally upbeat backdrop, particularly from the technology sector. US equities closed higher on Thursday, August 27, with the S&P 500 rising 0.7% to 7,730.99, the Dow Jones Industrial Average adding 0.2% to 53,569.44, and the Nasdaq composite climbing 1.6% to 26,541.35. This rally was predominantly driven by strong performances from major technology players like Nvidia, whose robust earnings and optimistic revenue outlook reignited the AI trade, and Salesforce, which reported strong financial results and raised its guidance. These developments could provide a positive read-through for Indian IT companies, especially those with exposure to AI and digital transformation.
Domestically, Indian equities closed lower on Wednesday, with the Nifty 50 ending below 24,250. IT stocks were among the biggest drags, partly due to concerns over the US administration's proposed high fees on new H-1B visas, which could raise costs for Indian technology companies. Pre-market indicators from the GIFT Nifty suggested a weaker start for Indian equities on Thursday. Foreign Institutional Investors (FIIs) recorded purchases of ₹503 crore, while Domestic Institutional Investors (DIIs) showed strong buying interest with ₹6,425 crore on August 26. However, a recent Reuters poll indicated a cut in India's stock outlook for the third consecutive quarter, as foreign investors show a preference for other Asian markets. Macroeconomic factors include elevated US inflation data from Wednesday, which keeps the possibility of a rate hike in play, with investor focus now shifting to the Federal Reserve's Jackson Hole symposium. Crude oil prices also rebounded due to geopolitical uncertainties.
Recent Developments
In terms of specific corporate actions and analyst commentary, Wipro has seen some notable developments. CLSA recently lowered its stock rating on Wipro, and JPMorgan maintains an 'Underweight' rating with a target price of $1.70. The consensus rating from MarketBeat for Wipro is a 'Strong Sell' with an average target of $1.70, reflecting bearish sentiment from some analysts. This comes despite the company's Q1 2027 earnings, where EPS of $0.03 was in line, but revenue of $2.58 billion slightly missed the consensus of $2.60 billion. Wipro did declare a ₹2 interim dividend. Positively, Wipro announced an expanded partnership with Databricks to assist enterprises in modernizing data infrastructure and scaling AI deployments, aligning with the strong global AI theme. Earlier in August, Meta Platforms scaled back its outsourcing work with Wipro, a move linked to AI-led business restructuring, which could impact future revenue streams.
Key Levels to Watch
Wipro opened today at ₹178.25, surpassing its previous close of ₹176.40. The intraday high of ₹180.20 will serve as an immediate resistance level. On the downside, the previous close of ₹176.40 and today's low of ₹178.25 are crucial support zones. Given the absence of 52-week high and low data at present, traders will likely focus on recent trading patterns and the bearish analyst consensus price target of $1.70 (approximately ₹140-145 at current exchange rates) as a longer-term reference for potential downside risk, though the stock is currently trading significantly above this. The stock was observed to be trading below its 50-day and 200-day moving averages as of August 25, which typically indicates a bearish technical setup.
Opening Outlook
As the session unfolds, traders should watch how Wipro reacts to the mixed global and domestic cues. The positive momentum from US tech giants, particularly in AI, could provide a tailwind, potentially countering some of the domestic sector-specific headwinds like visa fee concerns. The strong DII inflows could offer support, but persistent FII selling in the broader market, as indicated by recent trends, might cap significant upside. Investors will be keenly observing if the initial positive bias can translate into sustained gains, especially given the recent bearish analyst outlook and the impact of Meta's reduced outsourcing. The ability of the stock to hold above the ₹178-₹179 range will be critical for maintaining any positive sentiment in the early trade.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on Aug 28, 2026 09:39 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).