Stock market recap, April 9 -- The markets opened with a sharp gap-up and closed significantly higher on Wednesday, owing to a two-week ceasefire between the United States and Iran. The geopolitical de-escalation triggered a sharp 14% decline in the price of crude oil, which fell below $95 a barrel, easing inflation concerns and improving India's macro outlook.

Domestic sentiment was further bolstered by the RBI Monetary Policy Committee's decision to maintain the repo rate at 5.25%, ensuring policy stability. The Nifty 50 surged nearly 4%, reclaiming 24,000, led by strong gains in auto, realty, and banking.

The Nifty 50 opened on a positive note at 23,855.15, driven by favorable global cues. The index extended its gains to an intraday ...