Indian Equities Gain as Softening Oil Prices Offset Regional Market Volatility
Benchmark indices Sensex and Nifty edged higher in early Tuesday trading as easing West Asian tensions lowered crude costs. Significant buying in the technology sector provided additional support despite a sharp downturn in Asian regional markets.
Market Performance and Sectoral Movement
Domestic equity indices opened Tuesday, July 28, 2026, with modest gains, building on the momentum from the previous session. The 30-share BSE Sensex rose 152.7 points to hit 76,988.48, while the NSE Nifty 50 climbed 44.95 points to reach 24,040.90. This upward trend follows a robust performance on Monday, where the Sensex surged over 1% to close at 76,835.78 and the Nifty ended near the 24,000 mark.
Technology stocks led the morning rally. Prominent gainers included:
- Tech Mahindra
- Tata Consultancy Services (TCS)
- Infosys
- HCL Tech
- Hindustan Unilever
- Eternal
Conversely, selling pressure affected Bharat Electronics, NTPC, Power Grid, and State Bank of India, which featured among the early laggards.
Global Headwinds and Energy Dynamics
The primary driver for the positive sentiment remains the cooling energy market. Brent crude fell 1.44% to $87.09 per barrel as geopolitical friction in West Asia showed signs of stabilizing. According to Ponmudi R., CEO of Enrich Money, the decline in oil prices stems from renewed optimism surrounding diplomatic discussions with Iran, which has mitigated fears of drastic supply shortages.
Despite the domestic rise, Indian markets are operating against a turbulent international backdrop. Internal exchange data shows Foreign Institutional Investors (FIIs) remained net sellers on July 27, offloading equities valued at ₹1,688.23 crore. Regional sentiment in Asia was overwhelmingly negative; South Korea’s KOSPI plunged 9.34%, while indices in Japan, Shanghai, and Hong Kong all registered losses following a mixed close for U.S. markets.
Source: The Hindu — Business