Stock market live: India’s benchmark index continued to trade in positive territory on Wednesday. Earlier today, equity benchmark indexes started rising with influence from the US and Asia-Pacific markets. BSE Sensex opened 213.65 points or 0.29% higher at 73,952.10 and Nifty 50 opened 53.50 points or 0.24% higher at 22,421.50.
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Nestle, Ultratech Cement, Tata Steel, JSW Steel, Tata Motors and HDFC Bank were the major gainers from the Sensex basket.
International oil prices continued to rise after last week’s industry data showed an unexpected decline in U.S. crude inventories and positive signs for demand. Brent crude oil futures rose 5 cents, or 0.06%, to $88.47 per barrel, while U.S. West Texas Intermediate crude oil futures rose 8 cents, or 0.1%, to $83.44 per barrel.
U.S. crude oil inventories fell by 3.237 million barrels in the week ending April 19, according to a report citing statistics from the American Petroleum Institute.
More importantly, easing tensions between oil-rich Iran and Israel has eased pressure on oil prices. “Recent reports indicate that both Iran and Israel believe that the current operation is mutually terminating and that no additional measures are necessary at this time,” ING analysts said in a note. Ta.
Nifty50 majors Hindustan Unilever Limited (HUL), LTIMindtree and Axis Bank will announce their results today, while Bajaj Finance and Maruti Suzuki will announce their results later this week.
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