Ahead of key repo rate announcement, stock markets jump over 3% on US-Iran ceasefire agreement
Indian Express·1h ago·Positivity
What Happened
Indian stock markets rallied over 3% on Wednesday following US President Donald Trump's announcement of a two-week military strike suspension against Iran. The Sensex gained 2,682 points to 77,337.71, while Nifty rose 783 points to 23,907.15. Iran agreed to allow safe navigation through the Strait of Hormuz. Oil prices fell sharply, with Brent crude dropping to $95 and WTI crude tumbling 17% below $100 per barrel. The rupee strengthened to 92.63 against the dollar.
Key Entities
Donald TrumpIranUSIndian stock marketsSensexNiftyBrent crudeStrait of HormuzReserve Bank of India