Mumbai, April 8 -- The frontline equity indices traded strong major gains in mid-afternoon trade, supported by a sharp decline in oil prices following the ceasefire agreement between the US and Iran. Market sentiment was further lifted by a strengthening rupee, adding to the overall positive momentum, and was further supported by the RBI's Monetary Policy Committee (MPC) decision. The MPC kept the benchmark interest rate unchanged at 5.25% in its first policy meeting of the financial year 2026-27, under Governor Sanjay Malhotra. The Nifty traded near the 24,000 level. Financial serices shares extended gains for the fifth consecutive trading session.

At 14:30 ST, the barometer index, the S&P BSE Sensex surged 2899.15 points or 3.88% to 77...