Stock Market News: Sensex, Nifty Open Strong As US Pauses Iran Strikes, Crude Prices Fall

Equity benchmark indices opened higher on July 27 as signs of easing tensions in West Asia and a sharp fall in crude oil prices lifted investor sentiment across global markets.

The BSE Sensex rose 549.21 points, or 0.72 per cent, to open at 76,608.98. The NSE Nifty 50 also gained 160.95 points, or 0.68 per cent, to start the day at 23,928.40.

The rally came after the US stopped its air strikes on Iranian military targets late on July 24, ending 13 consecutive nights of attacks to allow room for diplomacy. A senior Iranian official told Reuters that Tehran would also stop its attacks as long as the US refrained from further strikes.

The de-escalation eased concerns over crude oil supply disruptions. Brent crude slipped to trade near $88 a barrel, falling as much as 6.50 per cent over the last two sessions, while West Texas Intermediate (WTI) declined towards $85 and was last trading about 7 per cent lower.

This is a developing story...