New Delhi, June 17 -- The Indian stock market extended its rally on Wednesday, June 17, as investors continued to respond positively to the ceasefire agreement between the US and Iran.

Benchmark indices advanced for the fourth consecutive session, with the Sensex climbing over 250 points to trade around the 77,050 mark, while the Nifty 50 gained 55 points to hover near the 24,000 level.

The United States and Iran have reportedly reached a preliminary understanding to end the conflict in the Middle East and reopen the Strait of Hormuz, with a final peace agreement expected to be signed on Friday.

Once the deal is formally concluded, it is anticipated to pave the way for Iranian oil exports to re-enter global markets.

This fear has push...