Indian Stocks Rally as Oil Prices Plummet Amid US-Iran Ceasefire

Indian equity benchmarks began trading higher on Wednesday following a sharp decline in oil prices. Brent crude dropped by more than 2% to around $86 per barrel.

The Sensex opened 236.01 points or 0.30% higher at 77,892.10, while the Nifty started the session increasing 7.40 points or 0.03% at 24,341.95.

In early trade, sectoral performance was mixed with PSU banking shares leading gains. However, some sectors like Metal and Auto declined.

Analysts attributed the market's support to easing crude oil prices amid reports of a ceasefire between the US and Iran and efforts to resume shipping through the Strait of Hormuz.