Sensex and Nifty in Positive Trend

Global cues turned positive after former US President Donald Trump announced that a final agreement with Iran is likely and that operations under “Project Freedom” in the Strait of Hormuz would be temporarily paused. This development boosted investor sentiment in the markets.

The strengthening of the Indian rupee against the US dollar also supported market momentum. The rupee is currently trading at 95.08 against the dollar. As a result, benchmark indices opened on a positive note and continued to trade in gains during early hours.

The Sensex opened nearly 400 points higher at 77,424 compared to the previous close of 77,017, though it later trimmed some gains and was trading up by 313 points at 77,331 around 10:00 AM. The Nifty also moved higher, gaining 117 points to trade at 24,150. Several stocks were in the green, while some witnessed declines. Mid-cap and banking indices also showed strong gains.