Sensex up 321 to 77,970 and Nifty 50 hits 24,377
Business
Markets got a lift on Wednesday as the Sensex gained 321 points to 77,970, and Nifty 50 edged up by 42 points to hit 24,377.
The rally was powered by lower global oil prices and renewed optimism about the Strait of Hormuz reopening.
Banks lead, metals and IT slip
Banking shares led the gains: Nifty PSU Bank rose over 1%, with Eternal up nearly 2% and both ICICI Bank and SBI adding about 1%.
Meanwhile, metal and IT stocks like Tata Steel, Infosys, and Bharti Airtel shares slipped around 1% each.
Analysts say falling oil prices and lower US bond yields helped boost confidence but warn that market valuations are looking stretched.