Stock Market Set for Surge as Oil Prices Plunge Following US-Iran Ceasefire
Stock Market LIVE: GIFT Nifty signals gap-up open ahead of MPC outcome; Brent crude plunges 14%
Business Standard
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The GIFT Nifty indicates a potential 2.87% rise for the Nifty50 at opening, driven by a sharp 13.6% drop in Brent crude prices after a US-Iran ceasefire agreement. Market participants await the Reserve Bank of India's Monetary Policy Committee meeting outcome, expected to keep the repo rate unchanged.
- 01GIFT Nifty futures indicate a 2.87% rise at opening.
- 02Brent crude prices fell 13.6% to $94.42 per barrel.
- 03The Reserve Bank of India's Monetary Policy Committee is expected to keep the repo rate unchanged.
- 04Asian markets, including South Korea and Japan, showed significant gains.
- 05The IPO market is active with Emiac Technologies and Safety Controls and Devices.
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On April 8, 2026, the GIFT Nifty suggested a 2.87% increase for the Nifty50 at the market's opening, buoyed by a 13.6% drop in Brent crude prices, which fell to $94.42 per barrel. This decline followed a ceasefire agreement between the US and Iran, which is expected to ease supply challenges in the oil market. The Reserve Bank of India's Monetary Policy Committee meeting is anticipated to maintain the current repo rate, with commentary expected to influence future policy directions amidst ongoing geopolitical tensions. Asian markets reacted positively, with South Korea’s Kospi and Japan’s Nikkei 225 rising by 5.69% and 4.97%, respectively. In the IPO sector, Emiac Technologies' offering enters its final day, while Safety Controls and Devices has seen strong interest, being subscribed 1.59 times.
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The decline in oil prices may lead to lower fuel costs, potentially reducing inflation and benefiting consumers. A stable repo rate could maintain borrowing costs for home and auto loans.
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