On Wednesday, the Indian stock market witnessed a remarkable rally, with the S&P BSE Sensex climbing 2,946.32 points or 3.95% to close at 77,562.90, while the Nifty 50 index surged 873.70 points or 3.78% to reach 23,997.35. This uptrend marks the fifth consecutive session of gains, driven by a significant drop in crude oil prices, which fell below $95 amid a US-Iran ceasefire. The Reserve Bank of India (RBI) also contributed to the positive sentiment by holding the repo rate steady at 5.25%, reinforcing stability in monetary policy. The broader market reflected this bullish trend, with the BSE MidCap index rising 3.97% and the SmallCap index increasing 3.88%. Notable contributors to the rally included Larsen & Toubro, HDFC Bank, and ICICI Bank, which saw substantial gains. The market breadth was strong, with 3,859 shares rising against 537 shares that fell. The RBI's Monetary Policy Committee, led by Governor Sanjay Malhotra, noted the challenges posed by global risks and elevated commodity prices but maintained a neutral stance, projecting real GDP growth of 7.6% for FY26. The ongoing geopolitical developments, particularly in the Middle East, have further influenced market dynamics, with investors reacting positively to the ceasefire agreement.