Bank stocks lift Indian markets as crude prices ease, RBI decision eyed

What happened: Indian markets closed higher, led by bank stocks, as crude prices eased. The Sensex rose 685.34 points, or 0.95%, to 73,067.81, and the Nifty 50 gained 220.35 points, or 0.9%, to 22,776.10. Key numbers: Sensex +685.34 points (+0.95%) to 73,067.81. Nifty 50 +220.35 points (+0.9%) to 22,776.10. Nifty Midcap 150 +1.03%. Nifty Smallcap 250 +1.4%. Why it matters: Markets await the RBI monetary policy announcement on Wednesday for direction, per Sunny Agrawal of SBI Securities. Axis Bank and Kotak Mahindra Bank gained after both reported growth in quarterly advances and deposits.

Bank stocks drive gains ahead of RBI policy decision.

Bank stocks drive gains ahead of RBI policy decision. — impact context not separately stored; see What changed.