Sensex up 609 as Iran hints Strait of Hormuz easing
Business
The stock market had a strong day on Wednesday: Sensex shot up 609 points to 77,496, and Nifty climbed 182 points to 24,178.
This rally came after news that Iran might ease military activity in the Strait of Hormuz, which gave investors some relief about global tensions and oil prices.
Maruti Suzuki shares jump 5%
Maruti Suzuki's shares surged 5% thanks to upbeat broker reports, even though its standalone March-quarter profit fell 7% year on year.
ITC also saw gains with price hikes expected soon. Sectors like FMCG, realty, and auto were up by 1% to 2%.
While small-cap stocks edged higher by 0.7%, midcaps slipped a bit.
Meanwhile, oil prices stayed high at $115 a barrel, so there's still reason for cautious optimism despite today's positive momentum.