April 8 (Reuters) - Indian shares stayed higher on Wednesday, helped by a fall in oil prices after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, while the Reserve Bank of India left rates unchanged as it assessed the war's impact on the economy.
The Nifty 50 was up 3.45% at 23,928.80 and the Sensex gained 3.71% to 77,387.66, as of 10:11 a.m. IST.
The RBI kept the repo rate steady at 5.25%, as it awaited clearer evidence of the impact of the Iran war.
Other Asian markets climbed 4.8%, while crude prices slipped to $95 a barrel after Trump said the U.S. would suspend bombings and attacks on Iran for two weeks and that talks were progressing toward a long-term peace agreement.
The development eased near-term fears of escalation in the conflict, which had pushed oil prices above $100 a barrel, posing risks to the economy, corporate earnings and financial markets of India, the world's third-largest oil importer.
Fifteen of the 16 major sectors advanced. The broader small-caps and mid-caps advanced 3.7% and 3.4%, respectively.
Domestic rate-sensitives such as heavyweight financials gained 4.8%, while auto and realty stocks rose 6.6% each.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy and Mrigank Dhaniwala)
By Bharath Rajeswaran
