-- Indian equity benchmarks posted a sharp rally on Wednesday, both rising nearly 4% as sentiment improved after a ceasefire between the U.S. and Iran.
The BSE Sensex jumped 2,946.32 points, or 4%, to close at 77,562.90, while the NSE Nifty 50 gained 873.70 points, or 3.8%, to settle at 23,997.35.
Markets reacted to a two-week ceasefire that is expected to pause military action and reopen the Strait of Hormuz. Crude oil prices dropped sharply after the development, easing concerns around inflation and external balances.
In economic news, Reserve Bank of India kept the repo rate unchanged at 5.25% and retained a neutral stance. Other key rates, including the standing deposit facility rate, marginal standing facility rate and the bank rate, were also left unchanged.
Among stocks, Hyundai Motor India (NSE:HYUNDAI, BOM:544274) rose over 4% after announcing a price hike of up to 1% across models from May due to higher input costs.
Angel One (NSE:ANGELONE, BOM:543235) gained nearly 9% after adding 510,000 new clients in March. Its total client base increased to 37.4 million.