Indian Shares Rebound; Maruti Suzuki India Shares Rally 5%
(RTTNews) - Indian shares opened higher on Wednesday, rebounding from losses seen in the previous session after reports suggested that Iran is preparing a phased proposal as part of efforts to revive stalled negotiations.
The revised proposal in expected to cover all key issues, with reopening the Strait of Hormuz and the unfreezing of Iranian assets likely to be in focus in the initial phase.
During a special Gulf Cooperation Council meeting on Tuesday, Gulf Arab states have reportedly called for ensuring security and freedom of navigation in the strait.
The benchmark BSE Sensex was up 535 points, or 0.7 percent, at 77,422 while the broader NSE Nifty index surged by 173 points, or 0.7 percent, to 24,167.
Maruti Suzuki India rallied nearly 5 percent post its Q4FY26 results.
Reliance Industries, TCS, Bharti Airtel, Infosys, ITC, Mahindra & Mahindra and Tech Mahindra were up 1-3 percent.
State-run oil explorers and oil marketing companies were subdued after the United Arab Emirates announced its decision to leave OPEC, paving the way for an independent oil strategy.
BHEL fell about 1 percent after signing a licensing pact with DRDO's NSTL unit.
PC Jeweller gained 1.3 percent after its arm, PCJ Mining, received a one-year gold-mining license in Chad.
Ratnaveer Precision Engineering dropped 1 percent on fund raising reports.
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