New Delhi, April 8 -- The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Wednesday, following a rally in global markets, after the US and Iran agreed to a two-week ceasefire deal.

Asian markets jumped, while the US stock futures traded higher after US President Donald Trump announced to halt military attacks on Iran in exchange for Tehran reopening the Strait of Hormuz.

On Tuesday, the Indian stock market ended with healthy gains, extending its rally for the fourth consecutive session.

The Sensex surged 509.73 points, or 0.69%, to close at 74,616.58, while the Nifty 50 settled 155.40 points, or 0.68%, higher at 23,123.65.

The Reserve Bank of India (RBI) is set to announce its first bi-monthl...