Sensex, Nifty close higher on foreign fund inflows, rally in U.S. equities

A view of the BSE building in Mumbai. File

Benchmark Sensex bounced back 351 points while Nifty closed above the 19,750 level on July 26 following buying in infra, banking and oil shares amid fresh foreign fund inflows and rally in the U.S. markets.

Snapping its three-session losing run, the 30-share BSE Sensex climbed 351.49 points or 0.53% to settle at 66,707.20. During the day, it jumped 541.56 points or 0.81% to 66,897.27.

The broader NSE Nifty advanced 97.70 points or 0.50% to end at 19,778.30.

From the Sensex pack, Larsen & Toubro jumped over 3%. ITC, Reliance Industries, Sun Pharma, Kotak Mahindra Bank, Axis Bank, Infosys and State Bank of India were the other major gainers.

Infrastructure major Larsen and Toubro (L&T) on July 25 posted a 36% rise in net profit to ₹3,116.12 crore for the June quarter, mainly aided by the execution of a healthy order book in its projects and manufacturing portfolio.

From the 30-share club, Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, Tech Mahindra, Asian Paints and Titan were among the major laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended lower.

Equity markets in Europe were trading in the red. The U.S. markets ended in positive territory on Tuesday.

Meanwhile, global oil benchmark Brent crude was trading 0.72% lower at $83 a barrel.

Foreign institutional investors (FIIs) were buyers on July 25 as they bought equities worth ₹1,088.76 crore, according to exchange data.

The BSE benchmark had slipped 29.07 points or 0.04% to settle at 66,355.71 on July 15. The Nifty inched up by 8.25 points or 0.04% to end at 19,680.60.