Closing Bell: Nifty 50 Closed 1% Higher, Snaps 5-Day Losing Streak as Crude Oil Relief

The Indian stock market ended sharply higher on Monday, July 27, with benchmark indices gaining nearly 1 per cent after a steep decline in crude oil prices boosted investor sentiment. The rally came after the U.S. and Iran paused strikes over the weekend, easing concerns over disruptions to global oil supplies. Lower crude oil prices are considered positive for India, the world's third-largest oil importer, as they help reduce inflationary pressures and support economic growth.

The Nifty 50 opened higher at 23,928.40 and briefly slipped to an Intraday low of 23,891.55 before witnessing sustained buying throughout the session. Strong afternoon momentum pushed the index to an intraday high of 24,011.60, while mild profit booking emerged near the 24,000 level during the final hour of trade. The Nifty 50 settled at 23,995.95 gaining 228.50 points, or 0.96 per cent , snapping a five-day losing streak.

The Sensex also closed firmly in the green, rising 776.01 points, or 1.02 per cent, to 76,835.78. The Bank Nifty advanced 0.69 per cent, extending its previous gains, while India VIX dropped 10 per cent to below the 13 mark, indicating easing market volatility.

Crude oil prices declined around 6 per cent as traders assessed that the pause in military action between the U.S. and Iran could reduce the risk of further supply disruptions. Brent crude, the global benchmark, slipped below USD 91 per barrel, providing a strong positive trigger for Indian equities.

Buying was broad-based across sectors, with all 11 major sectoral indices ending in positive territory. The Nifty Midcap 100 index climbed 1.11 per cent, ending a three-day losing streak, while the Nifty Smallcap 100 index gained 1.31 per cent.

Among sectoral indices, the Nifty Media index emerged as the top performer, surging 2.39 per cent to hit a nine-month high. The Nifty IT and Nifty Realty indices also gained more than 2 per cent each, while the Nifty Auto, Nifty Pharma and Nifty FMCG indices advanced over 1 per cent.

On the stock-specific front, IDFC First Bank shares rallied 5.06 per cent after reporting strong Q1 FY27 earnings. SBI Card gained 4.24 per cent following better-than-expected quarterly profit driven by improved asset quality.

Infosys was the biggest contributor to the Nifty 50's gains, adding 29.29 points to the index. Eternal contributed 24.94 points, while Bajaj Finance added 20.64 points. On the downside, HDFC Bank was the largest drag, shaving 10.85 points off the index, followed by Oil and Natural Gas Corporation (ONGC), which reduced 8.62 points, and HDFC Life Insurance Company, which weighed by 0.52 points.

Market breadth remained firmly positive. Of the 3,446 stocks traded on the NSE, 2,259 advanced, 1,072 declined and 115 closed unchanged. During the session, 103 stocks touched their 52-week highs, while 46 stocks hit their 52-week lows. Additionally, 96 stocks were locked in their Upper Circuits, whereas 89 stocks were locked in their Lower Circuits.

Disclaimer: The article is for informational purposes only and not investment advice.