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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 23,470. On Tuesday, Indian equity benchmarks halted a four-day losing streak. The NSE Nifty 50 rose 0.43% to close at 23,483.55, while the BSE Sensex gained 0.52% to end at 74,649.84. IT stocks led the gains, with Infosys contributing 53.59 points and TCS adding 35.57 points to the Nifty's rise. Financials and energy stocks such as ICICI Bank, Axis Bank, NTPC and Reliance Industries weighed on the indices.
Meanwhile, Oil prices rose on Wednesday as investors tracked uncertainty over US-Iran talks and fresh strikes between the two countries. West Texas Intermediate futures for July delivery rose over 1% to $94.81, while Brent crude for August delivery advanced 0.88% to $96.84 per barrel.
Elsewhere, Japan's Nikkei 225 rose 0.91% to a record high on Wednesday, while the broader Topix gained 0.93%. Australia's S&P/ASX 200 advanced 0.32%. Hang Seng futures pointed to a weaker start in Hong Kong, while South Korean markets were shut for a public holiday.
