Sensex rises over 200 points; Nifty nears 24,350 as oil prices slide. What lies ahead?

By

, ETMarkets.comLast Updated: Aug 26, 2026, 09:26:00 AM IST

Synopsis

On Wednesday, Indian stock markets rallied, buoyed by a decrease in oil prices and renewed optimism surrounding the reopening of the Strait of Hormuz, following a resumption of talks with Iran. Both the Sensex and Nifty indices showed positive momentum, with broader market metrics also trending upward, reflecting a hopeful sentiment among investors amid the fluctuating oil landscape.

The Indian stock market extended gains on Wednesday, with Sensex and Nifty trading in the green as oil prices slipped on fresh hopes that the Strait of Hormuz could reopen soon after Iran said it has resumed talks with Oman on managing the strategic waterway.

Sensex gained over 240 points to 77,895 while Nifty 50 rose around 8 points to 24,342 on Wednesday. Broader markets also opened in the green, with Nifty Smallcap 100 and Nifty Midcap 100 indices rising to 0.45%.

Eternal shares jumped nearly 2% to lead gains on Sensex, while ICICI Bank and SBI shares were up around 1% each. Bucking the trend, Tata Steel, Infosys and Bharti Airtel shares dropped around 1% each.

Among the sectors, Nifty PSU Bank index gained over 1%, while Nifty Metal, Nifty IT and Nifty Auto slipped into the red. The overall market breadth remained positive, with NSE seeing 1,931 advances and 566 declines, while 120 stocks remained unchanged.

More to come...

...moreless

...moreless