Mumbai (Maharashtra) [India], July 27 (ANI): Indian equity markets ended sharply higher on Monday, snapping a five-session losing streak, as easing tensions between the United States and Iran triggered a decline in crude oil prices, boosting investor sentiment globally.

Lower crude prices, which are seen as positive for India's import-dependent economy, along with favourable global cues, supported broad-based buying across sectors. Sectorally, all indices traded in the green, with Nifty IT emerging as the top gainer, surging 2.34 per cent, followed by Nifty Realty, which gained 2.28 per cent.

The Sensex closed at 76,835.78, up 776.01 points or 1.02 per cent, while the Nifty settled at 23,995.95, rising 228.50 points or 0.96 per cent.

Brent crude was trading at around USD 87.72 per barrel, while WTI crude oil was at around USD 82.12 per barrel at the time of reporting. The yellow metal was trading at around USD 4,098.02 at the same time.

On the Sensex, Eternal, IndiGo, Bajaj Finance, Asian Paints, M&M, NTPC, Titan, ICICI Bank, Bharti Airtel, BEL, Reliance, Adani Ports, Kotak Mahindra Bank, ITC, SBI, L&T, Maruti and Trent were among the top gainers. Meanwhile, HDFC Bank, Power Grid and Axis Bank were the top drags.

Riyank Arora, Associate Vice President - HNI & Derivatives, Hedged.in, said, 'Indian equity markets witnessed a strong rebound today, with benchmark indices ending sharply higher as broad-based buying across sectors lifted market sentiment. Positive global cues, easing volatility, and renewed buying in heavyweight stocks helped the markets recover strongly, indicating improving investor confidence.'

He added, 'Today's strong rally has significantly improved the technical outlook for the broader market. Both benchmark indices have regained key psychological levels and are displaying bullish chart structures with healthy buying momentum. As long as support levels remain intact, the short-term trend is expected to stay positive. Traders and investors may continue to adopt a buy-on-dips strategy in fundamentally strong stocks while maintaining prudent risk management.'

Market analyst Vipin Dixena said, 'Indian equity markets staged a strong relief rally, snapping a five-session losing streak as easing geopolitical tensions in West Asia and a sharp decline in crude oil prices significantly improved investor sentiment. The benchmark indices closed firmly in the green, with broad-based buying witnessed across sectors, particularly in IT, financials, and select consumption names.' (ANI)