Nifty Gains Amid Global Market Volatility; US-Iran Tensions Weigh on Indian Indices

Indian Stock Market Sees Fifth Consecutive Day of Gains as Global Markets Attempt to Rebound

The Indian stock market, driven by positive global cues on the de-escalation of the US-Iran war, ended higher for the fifth straight session on Monday, April 20, 2026. The key benchmark indices, the Nifty 50 and the BSE Sensex, closed at 24,353 and 78,493, respectively, with the Nifty 50 gaining 156 points and the BSE Sensex rising 504 points.

The Bank Nifty index also ended higher, gaining 479 points to close at 56,565. Sectorally, the trend remained largely positive, with most sectors ending in the green, led by FMCG, energy, and metals, while IT and pharma remained relatively muted. Broader markets continued to outperform, with mid-cap and small-cap indices advancing around 1.5% each, indicating sustained risk appetite.

The Gift Nifty index, which is used to predict the opening levels of the Nifty 50, opened at 24,500 and hit an intraday high of 24,503 within a few minutes of the opening bell. However, the index failed to sustain at higher levels and touched an intraday low of 24,408. By 7:15 AM, the index was trading at 24,475, up 55 points intraday.

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Market experts are expecting a gap-up opening for the Indian stock market today, with Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, predicting an opening around the 24,400-24,450 zone compared to Friday's close of 24,353. However, the apparent stability masks a fragile environment, with markets highly reactive to geopolitical headlines.

Global markets are attempting to rebound, with Asian markets showing signs of recovery. Japan's Nikkei gained over 300 points, and South Korea's Kospi traded higher by around 0.5%. However, this optimism is far from stable, with conflicting developments emerging over the weekend, particularly with reports indicating that the Strait of Hormuz had been closed again after briefly reopening on Friday.

Crude oil prices jumped as rising US-Iran tensions in the Middle East restricted shipping in and out of the Gulf, with Iran re-imposing its de facto closure of the Strait of Hormuz. Brent crude oil price rallied 6.10% to $95.89 a barrel, while the US West Texas Intermediate (WTI) crude futures surged 7.49% to $90.13 a barrel.

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From a domestic standpoint, Q4FY26 earnings from heavyweights such as HDFC Bank and ICICI Bank, announced over the weekend, are expected to provide some stability to the market. While both institutions delivered solid profit growth and met or exceeded expectations, their ability to anchor the index may be limited amid strong global volatility triggers.

Markets are likely to see a volatile, potentially uneven session today, with sentiment swinging between relief and renewed caution. The risk of a negative reaction remains elevated, especially if crude prices sustain their upward move.

FII-DII data shows that FIIs ended up as net buyers on Friday by buying Indian shares worth ₹683.20 crore in the cash segment. However, DIIs remained net sellers, selling shares worth ₹4,721.48 crore in cash. FIIs added shares worth ₹1,278.11 crore in the Index Futures, while they offloaded Indian shares worth ₹4,205.30 crore.

Market experts are recommending the following stocks for intraday trading:

• Sumitomo Chemical: Buy at ₹442, Target ₹474, Stop Loss ₹426
• Cummins India: Buy at ₹5141, Target ₹5503, Stop Loss ₹4960
• SBI: Buy at ₹1080, Target ₹1130, Stop Loss ₹1055
• Infosys: Buy at ₹1320, Target ₹1360, Stop Loss ₹1280
• IndiGo: Buy at ₹4634, Target ₹4750, Stop Loss ₹4600
• Mazagon Dock Shipbuilders: Buy at ₹2615, Target ₹2770, Stop Loss ₹2565
• GPPL: Buy at ₹160.90, Target ₹174, Stop Loss ₹156
• Dynamic Cables: Buy at ₹332.95, Target ₹355, Stop Loss ₹325