Indian Equities Open Higher as Oil Prices Ease Amid Ceasefire Hopes

Indian equities opened higher on Wednesday as easing crude oil prices boosted investor sentiment. The benchmark Sensex rose by 236.01 points or 0.30 per cent to open at 77,892.10, while Nifty started the session increasing 7.40 points or 0.03 per cent at 24,341.95.

Sectoral performance was mixed in early trade, with PSU banking shares leading gains. Nifty PSU Bank rose by 1.4 per cent, followed by Nifty Realty and Nifty MidSmall Financial Services which gained 0.66 per cent and 0.48 per cent respectively.

The decline in oil prices was attributed to reports of a ceasefire between the US and Iran and efforts to resume shipping through the Strait of Hormuz. Brent crude was trading around $86 per barrel, down by more than 2 per cent from the previous day's close.

Analysts noted that while these factors may provide some support to global equities, several heavyweight stocks remain technically weak. The broader market is expected to take the lead, supported by fundamentals and momentum, but stretched valuations remain a concern.