Indian benchmark indices started Thursday’s session on a positive note, extending their recent gains after the Reserve Bank of India (RBI) maintained policy stability and kept the repo rate unchanged.
Easing crude oil prices and optimism over possible diplomatic progress in the Middle East also supported investor sentiment.
At 10:34 am, the BSE Sensex was trading around 260 points higher at 78,739, while the NSE Nifty50 gained 17 points to 24,641.
Lower Crude Prices, RBI Policy Boost Market Mood
Oil prices remained a key support factor for Indian markets. Brent crude slipped below the $80-per-barrel mark to $79.34, while West Texas Intermediate (WTI) crude traded near $75.01 as investors tracked Iran-Oman discussions that could potentially lead to a broader US-Iran diplomatic agreement.
Lower crude prices are considered positive for India as the country relies heavily on oil imports. A decline in prices can help reduce inflationary pressures, lower import costs and support economic stability.
The market was also reacting to Wednesday’s RBI monetary policy announcement, where the central bank maintained the status quo on interest rates, raised its FY27 GDP growth forecast and reiterated its focus on inflation management.
FIIs Remain Key Factor
Despite the positive opening, broader markets showed a mixed trend. The Nifty Smallcap 100 index gained 0.23%, while the Nifty Midcap 100 declined 0.20%. India VIX, a measure of market volatility, eased 0.35%, indicating relatively stable conditions.
Among sectors, nine of the 16 major indices traded higher. Nifty IT gained 0.31%, extending its recent recovery, while pharma, media, chemicals and oil & gas stocks also moved higher. PSU Bank stocks edged up as well.
However, auto stocks declined 0.58%, realty slipped 0.54% and financial services excluding banks fell 0.14%.
At the stock level, ITC, Kotak Mahindra Bank, Bajaj Finserv, NTPC, SBI, Power Grid and Asian Paints were among the early gainers, while Maruti Suzuki, Titan and HDFC Bank traded lower.
