The stock market opened on a positive note in the early trends after US President Donald Trump and Iran agreed on a two-week ceasefire. Sensex rose to 2, 600 points, while Nifty was up 700 points on the opening bell as crude oil prices fell below $100 after Tehran promised to open the Strait of Hormuz, a crucial passage which passed 20% of the world's oil.
However, the market also rose higher ahead of the Reserve Bank of India (RBI) monetary policy meet today at 10 am. People are keeping an eye on the RBI's meeting as the repo rate will be announced today, expecting it to remain unchanged in RR amid global inflation.
Also Read | Indian Shares Set to Open Higher on US–Iran Ceasefire Deal; All Eyes on RBI Repo Rate Decision.
Meanwhile, the price of 24-carat gold fell by Rs 10 in the early trade on Wednesday, with 10 grams of the yellow metal trading at Rs 1,49,830, as per data on the GoodReturns website. The price of the silver also fell by Rs 100, with one kg of the silver metal priced at Rs 2,49,900.