Punjab Newsline | Mumbai
Indian stock market continued its upward momentum on Wednesday, with both the Sensex and Nifty trading in positive territory. A decline in oil prices provided significant support to investor sentiment amid renewed hopes that the Strait of Hormuz could reopen soon.
Iran has resumed talks with Oman over the management of the strategic Strait of Hormuz, raising expectations of an early resolution and easing concerns over disruptions to global oil supplies.
Sensex climbed 321 points to reach 77,970, while the Nifty 50 gained around 42 points to 24,377. Broader markets also opened on a positive note, with the Nifty Smallcap 100 and Nifty Midcap 100 indices rising 0.45%.
On the NSE, 1,931 stocks advanced, while 566 declined and 120 remained unchanged.
Among Sensex constituents, Eternal shares emerged as the biggest gainers, rising nearly 2%. ICICI Bank and State Bank of India also gained around 1% each. On the other hand, shares of Tata Steel, Infosys and Bharti Airtel fell by around 1%.
Sector-wise, the Nifty PSU Bank index gained more than 1%. However, Nifty Metal, Nifty IT and Nifty Auto slipped into the red.
The Indian foreign exchange market will remain closed on Wednesday due to the Eid-e-Milad holiday.
