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Indian stocks snap losing streak as crude oil slides
The Nifty 50 rose 1.0% to close at 24,000 and the Sensex gained 1.05% to 76,855% as Brent futures slipped below $89 a barrel after the US paused attacks and Iran suspended its military response.
LiveMint Markets said Indian benchmark indices rebounded on July 27, with broad-based buying lifting sentiment after crude oil prices eased following a reduction in Middle East tensions. The Nifty 50 gained about 1.0% to close at 24,000, snapping a five-session losing streak, while the Sensex rose 1.05% to 76,855%.
The broader market also participated, with Nifty Midcap 100 and Nifty Smallcap 100 both advancing more than 1%. Sectoral indices finished higher, led by Nifty Media, Nifty IT, and Nifty Realty, each up more than 2%, while Nifty Pharma and Nifty Auto closed up 1.6%.
The report linked the turnaround to relief after last week’s slump, when both benchmarks fell more than 2% in their worst week in four months as US-Iran tensions pushed oil higher. It noted that after nearly two weeks of military strikes, the US has reportedly paused its attacks since late Friday without explanation, and Iran said Tehran suspended its military response.
With crude giving back part of its recent rise, Brent crude futures fell below $89 per barrel after earlier trading near $100. LiveMint Markets also highlighted company moves tied to earnings and trading activity, including CarTrade Tech up 12.3% to ₹2,980, KFin Technologies up 10.7%, and Ramkrishna Forgings up 8%.
Latest closeWTI crude $90.47 ▼1.9%|Brent $98.38 ▼2.3%|Sensex 76,391.39 ▼0.5%