Domestic equity benchmarks on Wednesday traded flat in the morning session after a three-day rally driven by lower crude oil prices and optimism over a <a href="https://www.mid-day.com/news/world-news/article/irans-fm-says-talks-with-us-on-final-agreement-to-begin-friday-23635527" rel="nofollow">US-Iran peace deal</a>.&nbsp;
According to IANS, Sensex was trading at 76,817.58, up 8.58 points, or 0.01 per cent, while Nifty was at 23,988, down 1 point in early trade.
Earlier in the day, the 30-share index opened higher, rising 284.69 points or 0.37 per cent to hit an intraday high of 77,093.17. The 50-script basket began the day at 24,044.50, up 58.89 points or 0.24 per cent.
<h2>Sectoral indices</h2>
On the sectoral front, Nifty Consumer Durables was the top performer, gaining 1.26 per cent, followed by Nifty IT and Nifty Media.
Moreover, healthcare and pharma stocks remained in demand, with Nifty Pharma advancing 0.24 per cent and Nifty Healthcare rising 0.18 per cent.
In contrast, selling pressure was visible in metal and realty stocks. Nifty Metal fell 0.87 per cent, while Nifty Realty declined 0.68 per cent. <a href="https://www.mid-day.com/business/business-news/article/sensex-rises-544-points-nifty-nears-24000-as-us-iran-deal-boosts-sentiment-23635435" rel="nofollow">Nifty Auto, Private Bank and PSU Bank </a>indices also traded in the red.
Among the Nifty 50 constituents, Hindalco Industries, NTPC, Trent, ONGC, Bharti Airtel, Dr Reddy's Laboratories and Axis Bank were among the top losers.
On the commodities front, international benchmark Brent crude declined 0.72 per cent to USD 78.39 per barrel, while US West Texas Intermediate (WTI) crude decreased almost 1 per cent to USD 75.35.
<h2>Brent crude falls below USD 80 amid hopes of lasting US-Iran truce</h2>
While the Indian stock market opened flat on Wednesday, global crude oil prices also declined by almost 1 per cent as investors and traders assessed the possibility that the Iran conflict would end and the Strait of Hormuz would reopen.&nbsp;
International oil benchmark <a href="https://www.mid-day.com/business/business-news/article/crude-oil-prices-tumble-nearly-5-per-cent-as-us-iran-deal-eases-supply-fears-23635235" rel="nofollow">Brent crude fell 0.72 per cent to USD 78.39 per barrel,</a> while US West Texas Intermediate (WTI) crude slipped nearly 1 per cent to USD 75.35.
The selling pressure came after details of the US-Iran interim agreement to end the West Asia conflict emerged, with US President Donald Trump stating that Tehran would not obtain nuclear weapons and a US official saying that Iran would be allowed to sell oil upon signing the agreement.
The memorandum of understanding signed this week extends the ceasefire announced in April for another 60 days, allowing the warring sides to negotiate a permanent truce.
<h2>Indian rupee gains 31 paise</h2>
Meanwhile, the Indian rupee gained 31 paise on Wednesday. The domestic currency was trading at 94.29 against the US dollar, compared with 94.56 in the previous session.
According to experts, another distinct positive trend is the tapering of FII outflows. This trend is likely to continue since the rupee has been steadily strengthening and could appreciate further.
(With inputs from IANS)

Sensex and Nifty traded flat after a three-day rally as Brent crude fell below $80 on US-Iran truce hopes. The Indian rupee also strengthened

Stock market update: Sensex, Nifty trade flat after three-day rally as crude oil prices ease

Gold prices fall in Mumbai and Delhi as precious metals retreat from recent highs

The Sensex and Nifty traded flat on Wednesday after a three-day rally, supported by easing crude oil prices and optimism over a US-Iran peace deal. Meanwhile, the rupee strengthened by 31 paise against the US dollar, while Brent crude slipped below USD 80 a barrel

Sensex, Nifty trade flat after three-day rally as crude oil prices ease

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Home / Business / Business News / Article / Sensex, Nifty trade flat after three-day rally as crude oil prices ease