Stock markets close higher on foreign fund inflows, rally in US equities

Mumbai, July 26: Benchmark Sensex bounced back 351 points while Nifty closed above the 19,750 level on Wednesday following buying in infra, banking and oil shares amid fresh foreign fund inflows and rally in the US markets.
Snapping its three-session losing run, the 30-share BSE Sensex climbed 351.49 points or 0.53 per cent to settle at 66,707.20. During the day, it jumped 541.56 points or 0.81 per cent to 66,897.27.
The broader NSE Nifty advanced 97.70 points or 0.50 per cent to end at 19,778.30.
From the Sensex pack, Larsen & Toubro jumped over 3 per cent. 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 Tuesday posted a 36 per cent rise in net profit to Rs 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 US markets ended in positive territory on Tuesday.
Meanwhile, global oil benchmark Brent crude was trading 0.72 per cent lower at USD 83 a barrel.
Foreign institutional investors (FIIs) were buyers on Tuesday as they bought equities worth Rs 1,088.76 crore, according to exchange data.
The BSE benchmark had slipped 29.07 points or 0.04 per cent to settle at 66,355.71 on Tuesday. The Nifty inched up by 8.25 points or 0.04 per cent to end at 19,680.60. (PTI)