Sensex opens 500 points higher, Nifty above 23,900; IndiGo up 3%

The BSE Sensex surged 568.91 points, or 0.75%, to 76,628.68, while the NSE Nifty50 gained 149.85 points, or 0.63%, to 23,917.30 as of 9:25 am.Investors to focus on Reliance AGM for new energy plans and Jio IPO updates. Benchmark stock market indices opened sharply higher on Monday, snapping a five-session losing streak, as a steep fall in crude oil prices after the United States and Iran paused hostilities lifted investor sentiment.The BSE Sensex surged 568.91 points, or 0.75%, to 76,628.68, while the NSE Nifty50 gained 149.85 points, or 0.63%, to 23,917.30 as of 9:25 am. The rally came as Brent crude slipped below $93 a barrel after briefly crossing the $100 mark last week, easing concerns over inflation, India's import bill and corporate profitability. The Indian rupee also strengthened 0.4% to open at 96.1475 against the US dollar, adding to the positive sentiment.OIL PRICE SLIDE LIFTS DALAL STREETThe biggest trigger for Monday's rally was the sharp correction in crude oil prices.Brent crude fell 4.25% to $92.67 per barrel, while WTI crude dropped 4.68% to $85.13 after Iran said it would halt attacks as long as the United States refrains from further strikes, raising hopes of de-escalation in the Middle East.Lower crude prices are positive for India, the world's third-largest oil importer, as they help ease inflationary pressures, reduce the current account deficit and support corporate earnings.Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the decline in oil prices has significantly improved market sentiment."The sharp dip in Brent crude price from $102 four days ago to around $93 this morning is a sentiment positive for the market. If the de-escalation of the West Asia conflict holds and crude price drifts lower, that can sustain a mild rally in the market," he said.IT STOCKS LEAD GAINSTechnology stocks emerged as the biggest gainers after facing heavy selling last week.The Nifty IT index climbed 1.54%, making it the best-performing sector in early trade.Among Sensex constituents, Infosys jumped 2.39%, Tech Mahindra gained 1.39%, TCS advanced 1.27%, HCLTech rose 0.98% and LT added nearly 1%.IndiGo surged over 3%, while Asian Paints climbed 2.67%. Bajaj Finance, Eternal, Hindustan Unilever, Bajaj Finserv, Tata Steel and ITC also traded firmly in the green.ICICI Bank was the only Sensex stock trading marginally lower.BROAD-BASED BUYING RETURNSBuying was visible across the broader market as well.The Nifty Midcap 50 rose 1.14%, while the Nifty Midcap 100 gained 1%. The Nifty Smallcap 100 advanced 0.89%, indicating broad participation in the rally.Sectorally, the Nifty Media index climbed 1.58%, followed by Nifty IT (1.54%), MidSmall Healthcare (1.47%), MidSmall Financial Services (1.24%), FMCG (1.05%), Realty (1.02%) and Healthcare (0.88%). India VIX slipped nearly 4%, reflecting easing market volatility.FPIS MAY RETURN IF GLOBAL UNCERTAINTY EASESVijayakumar said foreign investor flows have remained volatile this month but India's diversified market could attract more overseas money if global concerns around AI spending and semiconductor stocks persist."FII flows have been very inconsistent this month, alternating between buying and selling. The correction in chip stocks and concerns surrounding the AI trade have the potential to revive enthusiasm of FPIs in Indian stocks. The diversity of stocks available in the Indian market is rare among emerging markets," he said.He added that falling crude prices and the progress of the monsoon would remain the two key factors driving market sentiment in the coming weeks.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsPublished On: Jul 27, 2026 09:18 IST