Mumbai, July 27 -- Key equity benchmarks snapped a five-session losing streak on Monday, with the Nifty closing near the 24,000 mark. The rally was fuelled by lower crude oil prices, easing geopolitical tensions and firm global cues. Optimism over Q1 earnings further lifted sentiment, while IT stocks gained after a foreign brokerage upgraded the sector to "neutral" from "underweight".

The S&P BSE Sensex climbed 776.01 points or 1.02% to 76,835.78. The Nifty 50 index jumped 228.50 points or 0.96% to 23,995.95. Over the previous five consecutive trading sessions, the Sensex declined 2.67%, while the Nifty fell 2.32%.

Eternal (up 5.61%), Infosys (up 3.59%) and Bajaj Finance (up 3.57%) boosted the Nifty higher today.

The broader market out...