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Sensex jumps 566 points as crude oil price falls
The Hindu··27 Jul
The BSE Sensex jumped 566 points to over 76,600 and the Nifty rose past 23,900 in early trade Monday after crude oil prices fell sharply. Brent crude dropped 4 percent to under 93 dollars a barrel following the pause in US-Iran strikes. InterGlobe Aviation, Infosys and Asian Paints led the gainers, while Bharti Airtel and ICICI Bank lagged.
Prism
What It Means For You
- Investors holding index-linked mutual funds or stocks may have seen gains from Monday's early rally.
- Lower oil prices can gradually ease fuel and transport costs for households if the trend holds.
- The rupee's rise against the dollar could make imported goods marginally cheaper in the near term.
What's Happening
- The Sensex jumped 566 points to 76,608.66 and the Nifty rose 153.60 points in early trade on Monday.
- The rally followed a sharp drop in crude oil prices after the US and Iran paused strikes.
- Brent crude fell 4 percent to 92.84 dollars a barrel following the weekend de-escalation in West Asia.
How a Distant Truce Moved Local Markets
- InterGlobe Aviation, Infosys, Eternal, Asian Paints and Bajaj Finance were among the top gainers on the Sensex.
- Bharti Airtel and ICICI Bank were among the laggards during Monday's early trading session.
- Foreign institutional investors had sold equities worth Rs 3,892.77 crore on Friday, ahead of the weekend pause.
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