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Markets end Monday’s session with strong gains as easing US-Iran tensions, sharp fall in crude oil prices, and optimism over global central bank policy support investor sentiment.
Stock Market Today.
Markets Today, July 27: Snapping a five-day losing streakIndian equity markets ended Monday’s session with strong gains as easing geopolitical tensions in West Asia, a sharp fall in crude oil prices, and optimism over global central bank policy supported investor sentiment.
The BSE Sensex closed at 76,835.78, up 776.01 points or 1.02%, while the NSE Nifty 50 settled at 23,995.95, gaining 228.50 points or 0.96%, ending just shy of the 24,000 mark.
The rally was broad-based, with the Nifty 500 advancing 1.05%, Nifty Midcap 100 rising 1.11% and Nifty Smallcap 100 gaining 1.31%. Investor confidence strengthened further as the India VIX plunged 9.76% to 12.66, indicating easing volatility.
IT, Realty and Media Lead Sectoral Gains
Most sectoral indices ended in positive territory, led by information technology, media and real estate stocks. The Nifty IT index climbed 2.34%, followed by Nifty Media (2.39%), Nifty Realty (2.28%), Nifty Pharma (1.56%), Nifty Auto (1.60%), Nifty Healthcare (1.46%) and Nifty FMCG (1.04%). The Oil & Gas index ended almost flat, while PSU Bank and Private Bank indices posted modest gains.
Eternal, IndiGo, Infosys Among Top Gainers
Among the benchmark constituents, Eternal surged 5.70%, while IndiGo gained 4.77%. Infosys and Bajaj Finance rose 3.54% each, followed by Asian Paints (2.87%), M&M (2.55%), Bajaj Finserv (2.24%), HCLTech (1.87%), TCS (1.85%), Sun Pharma (1.84%) and Maruti Suzuki (1.82%).
On the losing side, HDFC Bank, Power Grid and Axis Bank closed marginally lower, while Adani Ports ended nearly flat.
Global Cues Lift Sentiment
Markets remained supported throughout the session after Brent crude prices extended last week’s decline amid signs of a pause in hostilities in West Asia. Lower oil prices eased concerns over imported inflation and improved the outlook for India’s current account and corporate profitability.
Investors also remained focused on this week’s monetary policy meetings of the US Federal Reserve, Bank of England and Bank of Japan, along with earnings from major global technology companies, which are expected to shape global market direction.
Vinod Nair, Head of Research at Geojit Investments, said the easing of geopolitical tensions and lower crude oil prices triggered a relief rally in equities. “A pause in strikes in West Asia has eased concerns over rising import costs and inflation, triggering a relief rally in markets. The sharp correction in crude oil prices, along with a decline in long-term bond yields, has also raised hopes of a durable resolution, supported by signs of long unwinding.”
He added that upcoming policy meetings of the US Federal Reserve, Bank of England and Bank of Japan could provide room for policymakers to maintain the status quo on interest rates. On the domestic front, he said a narrowing rainfall deficit, better-than-expected first-quarter corporate earnings and an improving business outlook have strengthened the market’s confidence.
About the Author
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More
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