- Indian equities opened positively; Sensex, Nifty saw gains.
- US dropped Strait of Hormuz fee; market sentiment aided.
- Asian, US markets rose; crude prices remained steady.
Indian equity benchmarks witnessed a positive start to Wednesday’s trading session, supported by largely firm global cues and developments surrounding shipping through the Strait of Hormuz.
The BSE Sensex climbed more than 100 points and inched closer to 77,200, while the NSE Nifty50 stood marginally higher by almost 50 points, testing 24,100, as of 9:15 AM.
GIFT Nifty Signals Positive Start For Indian Markets
The GIFT Nifty futures pointed towards a positive opening for the benchmark Nifty50 index on Wednesday.
The futures were quoted at 24,028.50, up 14 points, indicating a mildly positive start for domestic equities.
In the pre-open session at around 9:05 AM, the Sensex stood at 77,196.56, up 141.62 points or 0.18 per cent, while the Nifty was at 24,071.20, higher by 19.15 points or 0.08 per cent.
Sentiment received support after the United States dropped the previously announced 20 per cent transit fee on ships crossing the Strait of Hormuz. The development brought some relief to markets tracking shipping and energy flows through the key waterway.
Investors remained focused on crude oil prices and developments in West Asia, while gains across most Asian equity markets also supported the early mood on Dalal Street.
Strait Of Hormuz Transit Fee Decision In Focus
Crude oil markets remained in focus after US President Donald Trump said Washington would not impose the earlier announced 20 per cent transit charge on vessels passing through the Strait of Hormuz.
The waterway remains a key point of attention for global energy markets amid continuing tensions in West Asia.
Following the latest announcement, crude oil prices remained largely steady. The July futures contract was quoted at $85.50, up 0.77 per cent.
Investors are expected to continue tracking developments surrounding the Strait of Hormuz and their potential impact on oil prices and global market sentiment.
Also Read : Will US Impose 500% Tariffs on India? Trump Backs Bill Over Russian Oil Purchases
Asian Markets Trade Higher Amid Mixed Global Cues
Most major Asia-Pacific markets moved higher in early trade on Wednesday as investors assessed oil prices and geopolitical developments in West Asia.
Japan’s Nikkei 225 advanced 0.31 per cent, while South Korea’s Kospi surged 5.57 per cent.
The positive trend across key regional markets provided support to the broader risk environment, although geopolitical tensions remained firmly on investors’ radar.
Wall Street Ends In The Green
US equity markets finished Tuesday’s session higher, offering further support to global sentiment.
The Dow Jones Industrial Average edged up 0.02 per cent, while the S&P 500 gained 0.38 per cent. The technology-heavy Nasdaq Composite outperformed its peers, rising 0.90 per cent.
The overnight gains on Wall Street added to the broadly positive global cues ahead of the Indian market opening.
Gold And Silver Futures Decline
Precious metals traded lower in early deals on Wednesday.
Gold futures declined 0.57 per cent, while silver futures slipped 0.43 per cent.
The fall in precious metal futures came as global equity markets largely traded on a positive note.
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