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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,325, compared to the index's close of 24,261.60 on Tuesday.
Oil prices steadied after Tuesday's drop, which followed a now-deleted post by US Energy Secretary Chris Wright claiming the US Navy had escorted an oil tanker through the Strait of Hormuz. Brent traded at $87.91 a barrel, down $3.14 or 3.45%, while WTI was around $83.43 a barrel, largely flat. The White House denied the claim, and the post was later deleted, keeping market focus on risks around the Strait of Hormuz.