The benchmark equity indices Sensex and Nifty gave part of their early gains on Wednesday amid fresh geopolitical concerns after US President Donald Trump's comments on Iran and the Strait of Hormuz.

The Sensex settled 152.05 points or 0.19 percent higher at 78,581, and the Nifty advanced to 24,624.65, up 9.75 points or 0.04 percent.

The BSE Sensex had jumped 626.43 points, or 0.79 percent to 79,055.38 in early trade, while the NSE Nifty advanced 62.70 points, or 0.25 percent to 24,677.60.

ITC, HCL Technologies and Coal India fell up to 1 percent, while Shriram Finance and Larsen & Toubro gained up to 2 percent.

US President Donald Trump has said the Strait of Hormuz would reopen "very soon" and warned Iran that it would face a "very strong strike" if the strategic waterway remained blocked.

Profit booking emerged at higher levels after the sharp early rally, with investors booking gains following the initial buying momentum.

Market breadth remained positive, with 2,219 shares advancing against 1,844 declines. Metal and auto stocks led the gains, while media and banking shares underperformed. Broader markets also ended in the green, with the Nifty Smallcap 100 outperforming the Midcap 100, while India VIX eased 1.72 percent.