Nifty Suffers Significant Decline Following Trump's Address, Oil and Precious Metals Prices See Volatility Amid US-Iran Tensions

Indian Stock Market Witnesses Strong Value Buying Amid US-Iran Tensions

The key benchmark indices of the Indian stock market, including the Nifty 50 and the BSE Sensex, surged by over 1.50% on Wednesday following the announcement by US President Donald Trump that the US military would vacate Iran in the next two to three weeks. However, the positive momentum may be short-lived as Trump's speech shattered hopes for a possible ceasefire in the Israel-US-Iran war.

The sharp selling in the Asian market today was a stark contrast to the Indian stock market's performance. The Japanese Nikkei crashed by around 1.75%, China's DJ Shanghai shed over 0.75%, Hong Kong's Hang Seng nosedived by 1.15%, and the South Korean Kospi tanked by around 4%.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Gift Nifty Signals a Weak Opening for Indian Stock Market

The Gift Nifty live chart crashed nearly 2% from yesterday's close, signaling a weak opening for the Indian stock market today. The Gift Nifty Futures is trading around 475 points lower at 22,346.

US Dollar Advances Amid Escalating US-Iran Tensions

The US dollar advanced against major currencies on Thursday, reversing two days of losses, after U.S. President Donald Trump's address on Iran shattered hopes for a possible ceasefire in the Middle East conflict. The dollar index, which measures the greenback against a basket of currencies, climbed to a high of 99.925 after the speech.

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

Gold and Silver Rates Decline Amid Escalating US-Iran Tensions

Gold and silver rates today declined after US President Donald Trump's jibe to hit Iran "extremely hard" over the next two to three weeks. The COMEX gold rate today dropped 2.30% to around $4,700/oz, and the COMEX silver rate today crashed over 5% to $72/oz.

India VIX Corrects by 10% in Previous Session

From a volatility standpoint, India VIX corrected by around 10% in the previous session, reflecting a partial unwinding of fear. A further decline in volatility is possible if the current positive sentiment sustains, which would help stabilise trading conditions and ease option premiums.

FII-DII Data Reflects Lingering Caution

Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹8,331 crore on April 1, reflecting lingering caution and a lack of strong conviction in the emerging de-escalation narrative. In contrast, Domestic Institutional Investors (DIIs) provided strong support, helping absorb selling pressure and sustain the recovery.

Market Experts' Outlook on Nifty 50 and Bank Nifty

Ajit Mishra, SVP — Research at Religare Broking, said the Nifty 50 has witnessed a relief rally after a steep ~11% decline in March; however, sustainability remains critical. Immediate resistance is placed in the 23,000–23,200 zone, with a key hurdle at 23,500, while support is seen in the 22,300–22,000 range.

Vatsal Bhuva, Technical Analyst at LKP Securities, said the Bank Nifty ended Wednesday's session on a positive note, with a clear positive divergence visible on the RSI in the daily chart, signalling a potential recovery phase.

Stocks to Buy Today

Market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these seven buy-or-sell stocks for intraday trading:

1. CONCOR: Buy at ₹444, Target ₹476, Stop Loss ₹428
2. Aurobindo Pharma: Buy at ₹1341, Target ₹1433, Stop Loss ₹1295
3. Ashok Leyland: Buy at ₹149, Target ₹157, Stop Loss ₹145
4. Bajaj Finance: Buy at ₹817, Target ₹850, Stop Loss ₹800
5. GAIL India: Buy at ₹140, Target ₹148, Stop Loss ₹135
6. Eicher Motors: Buy at ₹6825, Target ₹7100, Stop Loss ₹6700
7. NTPC Green: Buy at ₹98, Target ₹107, Stop Loss ₹95