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Key gauges snap five-day fall amid sharp drop in crude oil prices
Jul-27-2026

Snapping their five-session losing streak, Indian equity benchmarks witnessed a strong rebound on Monday amid supportive global cues and encouraging quarterly earnings. Investor sentiment improved after crude oil prices declined sharply following reports of a temporary easing in geopolitical tensions in the Middle East. 

Some of the important factors in trade: 

Exports, employment to get boost under India-UK FTA: Industry body -- Associated Chambers of Commerce and Industry of India (Assocham), in a latest study, has said that the implementation of the India-UK Free Trade Agreement (FTA) is likely to boost India's exports to the UK to $115 billion by 2030 from an estimated $58 billion in 2025-26.

Govt remains engaged with US in framework of negotiating BTA: Minister of State for Commerce and Industry Jitin Prasada has said that the government is studying all the developments and remains engaged with the US in the framework of negotiating a bilateral trade agreement (BTA). 

India, Israel deepen economic engagement with successful second round of FTA negotiations: The Commerce Ministry has said that India and Israel concluded the second round of negotiations for the proposed India-Israel Free Trade Agreement (FTA), with both sides making progress towards a balanced, comprehensive and mutually beneficial FTA. The four-day negotiations were held at Vanijya Bhawan, New Delhi, from July 20, 2026 to July 23, 2026. 

India’s forex reserves jump $1.08 billion to $676.237 billion: The RBI data has showed that India’s forex reserves jumped by $1.08 billion to $676.237 billion during the week ended July 17. In the previous reporting week, the overall forex kitty had jumped by $964 million to $675.157 billion. 

Global front: European markets were trading higher as Iran and the U.S. paused military strikes, easing geopolitical tensions and paving the way for peace negotiations. Asian markets settled mostly higher as oil prices tumbled amid U.S.-Iran truce hopes, helping ease inflation and interest-rate concerns ahead of crucial Fed, BoE and BoJ central bank meetings due this week. 

Finally, the BSE Sensex rose 776.01 points or 1.02% to 76,835.78 and the CNX Nifty was up by 228.50 points or 0.96% to 23,995.95.

The BSE Sensex touched high and low of 76,901.51 and 76,517.85, respectively. There were 28 stocks advancing against 2 stocks declining on the index.    

The top gaining sectoral indices on the BSE were IT up by 2.30%, Realty up by 2.25%, Consumer discretionary up by 1.75%, Healthcare up by 1.60% and Auto up by 1.53%, while Telecom down by 0.67% was the lone losing index on BSE. 

The top gainers on the Sensex were Eternal up by 5.63%, Interglobe Aviation up by 4.94%, Infosys up by 3.66%, Bajaj Finance up by 3.50% and Asian Paints up by 2.87%. On the flip side, HDFC Bank down by 0.41% and Axis Bank down by 0.05% were the top losers.

Meanwhile, with additional 10% US tariffs coming into effect, the economic think tank Global Trade Research Initiative (GTRI) has said these tariffs are appears to be aimed at preserving the Trump administration's tariff wall rather than addressing an unproven forced labour issue in India. It pointed that the tariff under the forced-labour investigation also lacks a credible factual basis as the US has not produced evidence that India imports goods made with forced labour. The new tariff takes effect on July 24, 2026. It has replaced the temporary 10% global tariffs, imposed under Section 122 for 150 days from February 24, that expired on July 24. Goods loaded before July 24 and entered into the US by July 28 are exempt under a transition provision.

The US has imposed a 10% tariff on goods imported from India and 16 other countries as part of a wider action against products made using forced labour. GTRI noted that India was bracketed among countries attracting 12.5% levies on June 3, when the US had proposed tariffs under Section 301 of the Trade Act, but Washington took note of the amendment New Delhi made to its foreign trade policy prohibiting the import of goods produced using forced labour. 

In response to US concerns, GTRI highlighted that India has already amended its Foreign Trade Policy to ban the import of goods produced using forced or compulsory labour. It also pointed that Indian law prohibits forced labour in domestic production through constitutional guarantees and labour statutes. Meanwhile, GTRI said that Trump administration is expected to announce the results of another Section 301 investigation into excess manufacturing capacity, which could lead to additional tariffs on a wide range of industrial products. These duties will be over and above the existing tariff a domestic product is facing in the American market.

CNX Nifty touched high and low of 24,011.60 and 23,891.55, respectively. There were 43 stocks advancing against 7 stocks declining on the index.

The top gainers on Nifty were Eternal up by 5.61%, Interglobe Aviation up by 5.12%, Infosys up by 3.59%, Bajaj Finance up by 3.57% and Max Healthcare Institute up by 3.30%.  On the flip side, ONGC down by 4.17%, HDFC Life Insurance down by 0.44%, HDFC Bank down by 0.34%, Coal India down by 0.09% and Power Grid Corporation of India down by 0.09%. 

European markets were trading higher; UK’s FTSE 100 increased 75.01 points or 0.7% to 10,811.24, France’s CAC rose 84.72 points or 1.01% to 8,457.00 and Germany’s DAX gained 427.4 points or 1.7% to 25,526.40.

Asian markets settled mostly higher on Monday amid a pause in Middle East hostilities, which dragged oil prices lower and lifted investor confidence ahead of crucial Fed, BoE and BoJ central bank meetings due this week. On Sunday Iran said it will halt its own attacks as long as the US does the same, following a China-led push to resume stalled diplomatic efforts in Pakistan to end the war. Chinese shares surged as shares of CXMT, China's biggest memory chip maker, soared nearly 500% on its first day on the Shanghai Stock Exchange. Seoul shares gained after South Korean and US technology leaders agreed to pursue $950 billion in AI and semiconductor partnerships during a July 2026 summit in San Francisco hosted by South Korean President Lee Jae-myung.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,858.25

44.05

1.15

Hang Seng

25,207.18

243.95

0.98

Jakarta Composite

6,185.78

-10.65

-0.17

KLSE Composite

1,713.09

12.07

0.71

Nikkei 225

64,931.19

320.04

0.50

Straits Times

5,620.24

31.90

0.57

KOSPI Composite

6,755.75

65.13

0.97

Taiwan Weighted

43,634.19

-20.65

-0.05
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