Stock market today, May 6 -- The domestic benchmark indices, the Nifty 50 and BSE Sensex, traded higher on Wednesday, 6 May, led by gains in banking stocks after the government approved a credit guarantee scheme to support businesses impacted by the Iran conflict.

Investor sentiment was further boosted by positive reactions to key corporate earnings and a decline in oil prices, amid hopes of a potential US-Iran peace deal.

The Nifty 50 rose 0.32% to 24,109 . 85 as of 13:58 IST, while the Sensex advanced 0.18% to 77,155.71.

The rally follows the Union Cabinet's approval of a $1.9 billion emergency credit guarantee programme, aimed at supporting businesses-particularly small firms-facing short-term liquidity challenges due to the Iran wa...