Indian Stocks Surge as IT and Banking Gains Offset Crude Oil Price Decline

The Indian stock market rebounded strongly on Monday, July 27, snapping a five-day losing streak. The S&P BSE SENSEX rose by 776.01 points, or 1.02%, to settle at 76,835.78, while the NSE's NIFTY50 index jumped 228.50 points, or 0.96%, to end at 23,995.95.

The rally was led by IT and banking stocks, which gained due to strong earnings growth in Q1 FY27. The investor sentiment was also boosted by a decline in Brent crude oil prices to $85.32 per barrel, down from $91.68 per barrel the previous day.

On the broader market front, the Nifty Midcap 100 rose 1.11% and the Nifty Smallcap 100 gained 1.31%. Among sectoral indices, IT stocks were the top gainers, climbing 2.34%, followed by Realty and Pharma.