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.