Stock Market
Realty, auto stocks rally after US-Iran ceasefire deal
Mumbai/IBNS: Real estate and auto stocks rebounded sharply on Wednesday following a two-week ceasefire deal between the United States and Iran, boosting investor sentiment, media reports said.
Auto and realty stocks surged up to 7%, while consumer stocks gained around 4%, reflecting renewed optimism in the markets.
Broad-based buying was seen across sectors, with 14 out of 16 sectoral indices trading in the green. Only IT and pharma stocks lagged behind.
The Indian stock market rallied sharply after Donald Trump announced the ceasefire agreement, easing concerns over geopolitical tensions.
Market cheers ceasefire deal
Benchmark indices posted strong gains, with the BSE Sensex soaring over 2,500 points and the Nifty 50 rising more than 800 points, aided by a sharp decline in oil prices.
RBI keeps repo rate unchanged
Meanwhile, the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.25% in its latest monetary policy decision.
The decision was taken at the 60th meeting of the Monetary Policy Committee (MPC), held from April 6 to April 8.
After assessing evolving macroeconomic and financial conditions, the MPC unanimously voted to retain the policy repo rate under the liquidity adjustment facility (LAF) at 5.25%.
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