Markets open in green, but all eyes are on the Strait of Hormuz
Mumbai/IBNS: The Indian stock market opened marginally higher on Thursday, with gains in select heavyweight stocks offset by losses in other sectors, keeping the benchmark indices largely range-bound.
Sensex rises at open, Nifty remains flat
The BSE Sensex opened around 170 points higher, while the NSE Nifty 50 remained largely flat during the opening hour of trade.
Reliance, HDFC Bank gain; Airtel, Bajaj Finance decline
Among the major stocks, Reliance Industries and HDFC Bank traded higher at the open.
On the other hand, Bharti Airtel, Bajaj Finance and Power Grid were among the early losers.
Focus on Strait of Hormuz developments
Investors are closely monitoring developments surrounding the Strait of Hormuz even as global oil prices remain subdued.
Iran has reportedly reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, raising expectations of increased movement of energy cargo through the strategic waterway.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
