India's stock market is on an upswing today, tracking a global rally and sharp drop in crude oil prices after two-week Iran ceasefire.
The Reserve Bank of India held the repo rate at 5.25%.
The 30-share S&P BSE Sensex gained as much as 3.95%, or 2,951.81 points, for an intraday high of 77,568.39, even as the wider NSE Nifty 50 reclaimed 24,000 levels.
Fourteen out of the 16 major indices advanced, with Nifty IT and Nifty Pharma being the laggards.
The broader small-caps and mid-caps climbed 3.7% and 3.4%, respectively.
Crude oil prices slipped below $100 a barrel after Trump said the US would suspend bombing and attacks on Iran for two weeks and that talks were progressing toward a long-term peace agreement.
