Indian Stocks Edge Higher as RBI Keeps Interest Rates Unchanged, Crude Prices Soften

The Indian stock market began Thursday marginally higher, extending its gains after the Reserve Bank of India (RBI) kept interest rates unchanged.

Easing crude oil prices and hopes of a diplomatic breakthrough in the Middle East also supported investor sentiment. Brent crude slipped below the $80-a-barrel mark to $79.34, while WTI crude traded at $75.01.

The RBI's decision to keep the repo rate unchanged was seen as expected by analysts, who now expect the focus to gradually shift back to earnings and global developments.

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.