Midday Report- Markets surge on RBI stability, crude plunge

The benchmark indices experienced a massive "relief rally" on April 8, 2026, with both the indices logging their best single-day gains in recent history. The rally in the market was driven by after US-Iran ceasefire deal and a steady hand from the RBI & crude crash. Brent crude prices plummeted by over 13%, dropping from roughly $110 to $94–$95 per barrel. All the sectors were trading in green. At 1.27 pm, Sensex jumped 3.89% or 2904 points to 77,516. The Nifty soared 3.75% or 869 points to 23,994.

The RBI’s Monetary Policy Committee (MPC) kept repo rate unchanged at 5.25% for the second consecutive time. RBI projected a steady GDP growth of 6.9% for FY27.

Global Update-

Asia-Pacific markets rose after Donald Trump said he had agreed to suspend planned attacks on Iran infrastructure for two weeks.

European stocks opened higher, as global markets breathed a sigh of relief after the US and Iran agreed to a conditional ceasefire deal.