Indian Market Edges Up on RBI Pause, Lower Oil Prices

The Indian market opened marginally higher on Thursday after the Reserve Bank of India kept interest rates unchanged, along with easing crude oil prices and hopes for a diplomatic breakthrough in the Middle East.

Brent crude slipped below $80-a-barrel to $79.34, while WTI crude traded at $75.01, as investors assessed progress in Iran-Oman talks that could pave the way for a broader U.S.-Iran peace deal. Softer crude prices are positive for India as they ease inflationary pressures and reduce the country's import bill.

The BSE Sensex was up 186.23 points, or 0.24%, at 78,767.23, while the NSE Nifty50 gained 9.95 points, or 0.04%, to 24,634.60. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the RBI policy largely met expectations and is unlikely to alter the market's near-term trajectory.