Nifty Falls Amid Global Tensions and Market Volatility: Recommendations for Buying and Selling Stocks on April 6, 2026

Indian Stock Market Volatility Persists Amid Geopolitical Tensions and Rising Oil Prices

The Indian stock market witnessed high volatility during the shortened week (March 30–April 2) as geopolitical tensions, rising crude oil prices, a weakening rupee, and continued FII outflows impacted the market. The market ended FY26 on a weak note, with the Sensex falling 1,635 points (2.22%) and the Nifty dropping 2.14%, led by broad-based selling across sectors.

The new fiscal year (FY27) began on a strong rebound, supported by global cues and hopes of de-escalation in the US-Iran war, with the Sensex gaining 1.65% and the Nifty rising 1.56%, led by banking, IT, and auto stocks. However, gains were partially reversed on April 2 as uncertainty resurfaced following US remarks on the conflict, dragging indices lower again. Overall, the week highlighted fragile sentiment, with geopolitical and oil-related risks continuing to dominate market direction despite intermittent recovery.

Gift Nifty Opens Downward, Reflecting Weak Sentiment

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The Gift Nifty has opened downward, losing over 75 points during the early morning session on Monday. According to experts, Gift Nifty's gap-down opening reflects a weak opening for the Indian stock market today.

In the Asian markets today, the Japanese Nikkei is up by more than 1%, while the Chinese Shanghai Stock Exchange (SSE) and Taiwan's TWSE are closed for holidays. Hong Kong's Hang Seng will be closed today for Easter.

Geopolitical Tensions Continue to Dominate Market Direction

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

US President Donald Trump on Sunday made expletive-filled threats against Iran and its infrastructure if it doesn't open the Strait of Hormuz by his Tuesday deadline, after American forces rescued a wounded aviator whose Iran-downed plane fell behind enemy lines. The ongoing geopolitical tension in West Asia may continue to act as a major overhang, and the latest developments have added fresh uncertainty after Donald Trump signalled possible strikes on key Iranian infrastructure, including power plants and bridges.

Crude Oil Prices Rise, Gold and Silver Prices Come Under Selling Pressure

Following a rise in WTI crude oil prices today after US President Donald Trump threatened to reopen the Strait of Hormuz, gold and silver prices came under selling pressure during early morning dealings in Asian markets. The COMEX gold rate today is down by around 0.50% and is oscillating around $4,655/oz, while the COMEX silver rate today is down by nearly one percent and is oscillating around $72/oz.

The MCX gold rate today is in the ₹1,45,000 to ₹1,57,000 per 10 gm range, while the MCX silver rate today is in the ₹38,000 to ₹42,000 per kg range.

India VIX Remains Elevated, Volatility Persists

Volatility remains a key concern. India VIX remains elevated above 25, indicating that fear and uncertainty have not fully subsided. Such levels tend to distort risk-reward dynamics, especially in derivatives, where higher premiums make aggressive positioning less favourable. In this environment, a more calibrated approach with reduced exposure appears prudent.

Stock Market Outlook: Immediate Resistance at 23,000–23,200 Zone

Speaking on the outlook of the Nifty 50 index, Ajit Mishra, SVP — Research at Religare Broking, said the Nifty 50 index continues to exhibit high volatility with sharp intraday swings, indicating indecisiveness at current levels. "We expect the prevailing volatility to persist in the near term. Immediate resistance is in the 23,000–23,200 zone, with a key hurdle around 23,500, while support is at 22,300–22,000."

Stocks to Buy Today

Market experts have recommended the following seven buy-or-sell stocks for intraday trading:

Please note that these are intraday trading recommendations and should not be considered as investment advice.