Stock Market Closing Bell, July 27: Market benchmark indices Sensex and Nifty rebounded on Monday following a sharp decline in crude oil prices amid easing tensions in the West Asia.
Stock Market Closing Today On July 27On Monday, the 30-share BSE benchmark Sensex gained 776.01 points or 1.02 per cent to close at 76,835.78. The NSE Nifty went up by 228.50 points or 0.96 per cent to close at 23,995.95.
The Nifty Bank index, which tracks the movement top 12 listed banks of the country, closed 393.70 points or 0.69 per cent up at 57,087.20.
Why stock market was up today?
1. Sharp fall in crude oil prices
Brent crude dropped over 5.5% to USD 86.50 a barrel, while WTI fell more than 6% to USD 83.66. Lower oil prices reduce India’s import bill, ease inflation and support corporate earnings.
2. Easing geopolitical tensions
The US held back from attacking Iran, while Tehran paused its retaliatory strikes after nearly two weeks of conflict. The de-escalation improved investor sentiment and reduced market uncertainty.
The rupee strengthened 0.3% against the US dollar to 96.266, touching an intraday high of 96.195. A firmer rupee lowers import costs, eases inflation and boosts market confidence.
5. Positive Asian markets
Asian equities, including Japan’s Nikkei, China’s Shanghai Composite, South Korea’s KOSPI and Hong Kong’s Hang Seng, traded higher, improving global risk appetite and supporting Indian markets.
On Friday, the Sensex declined 331.62 points, or 0.43 per cent, to settle at 76,059.77. The Nifty dipped 102.15 points, or 0.43 per cent, to end at 23,767.45.
