India's stock market is gearing up for a significant rise today, following a global rally and a sharp decline in crude oil prices after a two-week ceasefire in the Iran conflict. As of 8:42 AM, GIFT Nifty 50 futures were trading at 23,802 points, reflecting an increase of 703 points, suggesting that the benchmark Nifty 50 may open about 3% higher than Tuesday's close of 23,123.65. Other Asian markets have also seen gains of approximately 4%. The ceasefire has led to a drop in crude oil prices below $100 a barrel, which had previously surged due to the conflict. The Nifty 50 and Sensex have both experienced declines of around 8.2% since the war began on February 28, contributing to the rupee hitting record lows due to high crude prices and significant foreign outflows. Investors are now closely watching the Reserve Bank of India's (RBI) monetary policy announcement scheduled for 10:00 AM, where it is widely anticipated that the repo rate will remain unchanged at 5.25%. Analysts suggest that inflation could rise to 4.5% for FY27, up from 2.1% in FY26, potentially leading to a rate hike later in the year.