New Delhi, Oct. 3 -- The Indian equity market staged a powerful relief rally on Wednesday, snapping an eight-session losing streak as investors cheered the outcome of the Reserve Bank of India's monetary policy committee (MPC) meeting.

The Nifty 50 surged 239 points (0.97%) to settle convincingly above the key technical resistance at 24,850.6, while the Sensex recorded a robust gain of 754 points, closing at 81,022.58. The central bank's decision to maintain the repo rate at 5.50% was less impactful than its forward guidance, which included an upward revision of the FY26 GDP growth forecast to 6.8% and a cut in the CPI inflation projection to 2.6%.

This optimistic outlook, coupled with pro-market measures such as the liberalisation of l...