New Delhi, June 17 -- The optimism around peace deal between US and Iran, along with weakening crude oil prices continued to bolster stock market bulls. The Indian benchmark indices, Sensex and Nifty 50, closed higher for the fourth session in a row, although the quantum of gains declined as the deadline to open the Strait of Hormuz looms.

Investors also keenly awaited the US Federal Reserve's monetary policy outcome later tonight. Expectations are rife that the US central bank could keep interest rates steady amid inflationary impact of higher energy costs, but commentary is key as it marks newly-appointed chief Kevin Warsh's first meeting.

The 30-pack Sensex closed the day at 77,156, up 347 points or 0.45% and Nifty 50 closed 97 point...