Indian equity benchmarks surged on Wednesday after the Reserve Bank of India changed its monetary policy stance to “neutral”.

Benchmark stock market indices opened higher on Wednesday ahead of the Reserve Bank of India's (RBI) monetary policy meeting, where the bank is likely to keep the repo rate unchanged. The S&P BSE Sensex added 129.72 points to 81,764.53, while the NSE Nifty50 gained 46.35 points to 25,059.50 as of 9:30 AM.

The Indian stock market ended on a mixed note on Wednesday, October 9, 2024, with the BSE Sensex closing lower while the Nifty 50 managed to hold above the 24,900 mark. The benchmark Sensex closed at 81,

The Reserve Bank of India (RBI) has adjusted its stance to a neutral position. Shaktikanta Das said five members of the 6-member MPC voted in favour of keeping the policy repo rate unchanged at 6.5%.

Indian stock markets rose over 0.5% on October 9 after the RBI held the repo rate at 6.5% for the tenth time. The RBI shifted its policy stance to 'neutral', hinting at potential rate cuts, boosting investor sentiment and leading to significant gains in various sectors.

Indian blue-chip indices Nifty50 and BSE Sensex opened higher for the second consecutive day, driven by gains in auto and IT stocks. This rise comes ahead of the Reserve Bank of India's policy meeting,