Mumbai, April 8 -- The key equity barometers traded with major gains in early afternoon trade, driven 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 above the 23,950 mark. PSU bank shares advanced after falling in the previous trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, climbed 2,844.86 points or 3.81% to 77,461.44. The ...