New Delhi, April 8 -- The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday after the announcement of the US-Iran ceasefire deal spurred a rally in global markets.

The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 23,840 level, a premium of nearly 689 points from the Nifty futures' previous close.

On Tuesday, the Indian stock market extended its rally for the fourth consecutive session and ended higher, with the benchmark Nifty 50 closing above 23,100 level.

The Sensex jumped 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 US and Iran have ag...