Updated on: Apr 08, 2026 9:25:18 AM IST
The National Stock Exchange building in Bandra Kurla Complex, Mumbai.
India’s stock market surged at the opening bell today, tracking a global rally and sharp drop in crude oil prices after two-week Iran war ceasefire.. The 30-share S&P BSE Sensex surged 3.58%, or 2,674.05 points, to reclaim the 77,000 levels even as the Nifty 50 gained 731.50 points to 23,855.20 points. That, after crude oil prices cooled below $100/barrel.
Investor focus is now on the Reserve Bank of India’s monetary policy decision later in the day, with markets watching closely for updated growth and inflation forecasts amid lingering uncertainty from the Middle East conflict.
Other Asian markets climbed 4%, while crude 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.
Iran war impact on Sensex, Nifty 50
The Nifty 50 and Sensex have dropped about 8.2% each since the Iran war began on 28 February, while the rupee slid to record lows, weighed down by elevated crude oil prices and record foreign outflows.
The Iran war had pushed oil prices above $100 a barrel, posing risks to the economy, corporate earnings and financial markets of India, the world’s third-largest oil importer.
RBI Monetary Policy
Against this backdrop, the Reserve Bank of India is widely expected to keep the repo rate unchanged at its monetary policy announcement at 10:00 today, as policymakers assess the fallout from the Iran war.
“Market expectations are that consumer price inflation, post the war, could be around 4.5% for FY27, up from 2.1% in FY26. If that indeed is the outcome, we don’t rule out the possibility of a 25-50 bps rate hike in H2 FY27,” Macquarie Research analyst Suresh Ganapathy told Reuters. “RBI will have to factor in the Iran war and its implications on economic growth and inflation while releasing its forecasts.”
At its previous policy meeting on 6 February, the central bank had kept the repo rate unchanged at 5.25%.
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Investor focus is now on the Reserve Bank of India’s monetary policy decision later in the day, with markets watching closely for updated growth and inflation forecasts amid lingering uncertainty from the Middle East conflict.
Other Asian markets climbed 4%, while crude 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.
Iran war impact on Sensex, Nifty 50
The Nifty 50 and Sensex have dropped about 8.2% each since the Iran war began on 28 February, while the rupee slid to record lows, weighed down by elevated crude oil prices and record foreign outflows.
The Iran war had pushed oil prices above $100 a barrel, posing risks to the economy, corporate earnings and financial markets of India, the world’s third-largest oil importer.
RBI Monetary Policy
Against this backdrop, the Reserve Bank of India is widely expected to keep the repo rate unchanged at its monetary policy announcement at 10:00 today, as policymakers assess the fallout from the Iran war.
“Market expectations are that consumer price inflation, post the war, could be around 4.5% for FY27, up from 2.1% in FY26. If that indeed is the outcome, we don’t rule out the possibility of a 25-50 bps rate hike in H2 FY27,” Macquarie Research analyst Suresh Ganapathy told Reuters. “RBI will have to factor in the Iran war and its implications on economic growth and inflation while releasing its forecasts.”
At its previous policy meeting on 6 February, the central bank had kept the repo rate unchanged at 5.25%.
Follow all the updates here:
Apr 08, 2026 9:25:18 AM IST
Stock Market LIVE: Indian Oil, HPCL, BPCL surge
Shares of India’s oil marketing companies—Indian Oil Corp. Ltd., Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corp. Ltd. (HPCL) rose 6.15%, 7.65% and 7.77%, respectively, after the Iran war ceasefire cooled crude oil prices to under $100/barrel.
Apr 08, 2026 9:23:22 AM IST
Stock Market LIVE: India VIX slips 18%
India’s Volatility Index slipped 18.10% to 20.23% on Iran ceasefire.
Apr 08, 2026 9:21:00 AM IST
Stock Market LIVE: Sensex, Nifty 50 surge at opening bell
The 30-share S&P BSE Sensex surged 3.58%, or 2,674.05 points, to reclaim the 77,000 levels even as the Nifty 50 gained 731.50 points to 23,855.20 points. That, after crude oil prices cooled below $100/barrel.
All Nifty 50 stocks rose, except ONGC Ltd. InterGlobe Aviation Ltd. (IndiGo) and Larsen & Toubro Ltd. were the top gainers.
Nifty Bank is up over 4%, with all constituents in the green.
Apr 08, 2026 9:15:39 AM IST
MCX Gold jumps after Iran ceasefire deal
Gold prices on India’s Multi Commodity Index surged after crude oil prices fell due to the two-week Iran ceasefire.
At 9:00 am, MCX Gold April Futures contract rose 2.13%, or ₹3,161, to ₹1,51,894/10 gm, while the MCX Silver May futures gained 5.01%, or ₹11,602, to ₹2,42,950 per kg.
Apr 08, 2026 9:10:21 AM IST
Stock Market LIVE: Sensex up 2,500 points, Nifty 50 tops 24,000
The 30-share S&P BSE Sensex surged 2,500 points to reclaim 77,000 levels in pre-opening trade, even as the wider NSE Nifty 50 crossed 24,000 points.
Apr 08, 2026 9:06:29 AM IST
INR USD: Rupee gains against US Dollar on Iran ceasefire
The rupee has strengthened 0.4% to 92.6750/dollar after the Iran ceasefire cooled crude oil prices. The 10-year bond yield opened at 6.95% versus yesterday’s close of 7.05%.
Apr 08, 2026 8:47:16 AM IST
Iran ceasefire offers rupee major boost ahead of RBI policy
The Indian rupee is set to open higher on Wednesday in the run‑up to the RBI monetary policy decision, buoyed by plunging oil prices and the rally in Asian currencies after a two‑week Iran ceasefire.
The rupee is likely to open in the 92.40-92.50 range versus the U.S. dollar, having settled at 93.0075 on Tuesday.