Sensex Today, Nifty 50 | Stock Market Highlights: Sensex ends 787 pts higher on US-Iran ceasefire plan, Nifty up 1%

Market wrap by Mr. Ajit Mishra – SVP, Research, Religare Broking:

• Markets witnessed a volatile session on Monday but ended with gains of over 1%. The Nifty opened on a muted note amid mixed global cues and elevated crude oil prices, and slipped lower in early trade.
• However, sentiment improved significantly in the afternoon, leading to a strong rebound. The index eventually surged to close near the 22,968 level, gaining over 1%.
• Sectorally, most sectors participated in the recovery, with realty, financials, and banking emerging as the top gainers.
• Broader markets also joined the rebound, with midcap and smallcap indices advancing nearly 1.5% each, supported by improved market breadth and selective risk appetite.
• The recovery was primarily driven by reports of a potential ceasefire framework in the Middle East, which helped stabilize crude prices after the initial uptick and improved global risk sentiment. Additionally, stability in bond yields and continued sector-specific triggers, including positive business updates, further aided the up move. However, concerns around foreign institutional outflows, currency volatility, and potential earnings downgrades continue to linger in the background.
• The rebound over the past two sessions is encouraging; however, a decisive cool-off in crude oil prices and a corresponding decline in India VIX—still at elevated levels—remain critical for a sustained recovery. Going ahead, a break above the 23,000 mark could further extend the up move towards the 23,400–23,500 zone, where the hurdle of the short-term moving average (20 DEMA) is placed. On the downside, support is seen in the 22,500–22,000 range.
• Given the elevated volatility, traders are advised to maintain a cautious stance and focus on stock-specific opportunities—favoring relatively strong counters for long positions and laggards for shorting opportunities."

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse said:

"The markets kicked off the week on a strong note, witnessing a sharp rebound as Nifty moved past the 22,900 mark and formed a bullish candle with a long lower shadow. The overall structure is gradually turning positive, suggesting a continuation of the upward move towards 23,200, followed by 23,400 levels.

Support has also shifted higher to the 22,500 zone. The momentum indicator RSI has started forming a higher top and higher bottom pattern and has crossed the 40 mark, indicating improving sentiment. However, India VIX remains elevated around 25, and a cooling-off in volatility would be essential for sustained bullish momentum."

Vinod Nair, Head of Research, Geojit Investments said:

"Domestic equities staged a strong rally as value buying gained traction across the board, with oversold sectors such as Finance, Realty, and Midcaps showing notable strength. Crude prices softened marginally on reports of ceasefire efforts, while encouraging provisional banking data supported interest in rate‑sensitive segments.

However, overall risk appetite remains cautious due to persistent inflationary pressures and concerns over potential disruptions to global trade. With the RBI policy, US CPI, crude trajectory, and geopolitical developments all converging this week, markets are likely to remain headline-driven. Given the deep discount in the broader market, there is meaningful upside potential if a credible ceasefire emerges, despite the prevailing sell‑on‑rise trend."

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said:

"Rupee traded stronger by 30 paise at 93.00, supported by RBI’s recent measures to curb speculation and improve dollar supply, which triggered a sharp rebound from recent lows near 95.

The recovery is also aided by improving risk sentiment on initial US–Iran de-escalation hopes, although uncertainty remains elevated. This move largely reflects a technical pullback and RBI-driven stability, rather than a structural reversal in trend. Despite the bounce, underlying pressures from crude prices and global uncertainty continue to persist.

USDINR Near-term, support is seen in the 92.45 zone, while resistance is placed near 93.75–94.00."

The rupee gained 14 paise to close at 93.04 (provisional) against the US dollar on Monday, following the Reserve Bank's initiatives designed to curb speculative fervour and dampen volatility in the rupee.

Forex traders said that though the RBI measures are rupee-positive, unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation continue to put pressure on the rupee.

The RBI tightened its rules to curb speculative positions and capped banks' net open positions at USD 100 million.

At the interbank foreign exchange, the rupee opened at 93.13 against the US dollar and in intraday trade gained momentum to touch a high of 92.79 against the greenback. (PTI)

Broader markets also ended higher with Nifty Midcap 100 rising 1.5% and Nifty Smallcap 100 gaining 1.3%

Sensex ended 787.30 points or 1.07% higher at 74,106.85 while Nifty rose 255.15 points or 1.12% to settle at 22,968.25.

Spice Lounge Food Works share price was locked in at 5% upper circuit, extending its rally for the third consecutive session, amid strong buying momentum and a rebound in the broader Indian stock market. The small-cap stock was up as much as 5% at ₹27.82 apiece on the BSE.

Spice Lounge Food Works shares hit upper circuit for the third straight session. The stock has jumped 15.7% over these three sessions.

Around 9,000 equity shares of Spice Lounge Food Works changed hands on stock exchanges on April 6, as against its one week average trading volume of 22,000 shares, and one month average trading volume of 40,000 shares

Global brokerage Jefferies sees strong growth in the Indian Railways' rolling stock capex, but finds one stock worthy to capitalise on this trend: Titagarh Rail Systems.

Jefferies has initiated coverage on railway stocks Titagarh and Jupiter Wagons, with 'Buy' and 'Underperform' ratings, respectively. While both stocks trade at 40 times price to earnings (PE), the brokerage finds Jupiter Wagons too expensive for the growth differential. It has a target price of ₹810 for Titagarh, suggesting a 32% upside from the last closing price of ₹615, while for Jupiter Wagons, the global brokerage sees a 22% decline. Read more

Shares of RBL Bank saw renewed buying interest in Monday’s session (April 6), climbing 6.22% to reach a 5-week high of ₹319.75, as investors appeared encouraged by the bank’s March quarter business update.

The company, through an exchange filing on Thursday, announced its business performance for the quarter ended March, reporting healthy growth across key metrics. Total deposits rose 25% year-on-year and 16% sequentially to ₹1.39 lakh crore as of March 31, 2026, while gross advances increased 22% YoY and 11% QoQ to ₹1.15 lakh crore.

The bank also saw strong traction in its retail franchise, with secured retail advances growing 36% YoY and 17% QoQ, alongside steady momentum in wholesale and commercial banking segments. CASA deposits improved 23% YoY, with the ratio rising sequentially to 33.6%, indicating a better liability mix.

Analysts predict that new-age technology firms will likely report a mixed bag of earnings for Q4FY26, influenced by rising macroeconomic uncertainties and increasing competition. Brokerage house, Nuvama Institutional Equities, anticipates that companies such as Eternal, Swiggy, and Nykaa will drive revenue growth during this quarter, while Info Edge (India) and IndiaMART InterMESH are expected to deliver comparatively modest performance.

On the other hand, Nuvama believes that the staffing firms may continue to experience challenges in general staffing, although demand for IT subcontracting is expected to remain strong. Read more

Top Indian information technology firms are set to report another lacklustre quarter, with revenue and profit seen rising around 10% year-on-year largely on a weaker rupee rather than underlying growth, seven brokerages said.

Uncertainties due to wars, weak discretionary spending and concerns around artificial intelligence will keep weighing on client budgets, making the revenue forecast for the next fiscal year a key focus for investors, they added.

Tata Consultancy Services, Infosys, HCLTech and other software services exporters are due to report fourth quarter results starting April 9. (Reuters)

The Indian stock market witnessed heightened volatility on Monday amid weak global cues, as escalating US-Iran war in the Middle East and a surge in crude oil prices continued to weigh on investor sentiment. The Nifty 50 managed to break above the key resistance level of 22,800. Analysts suggest that the next critical level to watch is the 23,000 mark.

According to Amit Goel, Chief Global Strategist at PACE 360, the likelihood of the 50-stock index breaching the 22,000 level appears limited, given the significant build-up of put writing at the 22,500 and 22,000 strike levels.

He added that a decisive breakout in the Nifty 50 would likely require the Bank Nifty to close above the 56,000 level. Read more on key levels to watch for Nifty

Multibagger stock Take Solutions share hit its 2% upper circuit of ₹42.04 on BSE on Monday, April 6, after the company announced the launch of an Innovation Fund with an initial corpus commitment of ₹50 million, or ₹5 crore, on Sunday, April 5.

The fund is to invest in early- and growth-stage startups operating at the intersection of artificial intelligence, deep technology and the health and wellness sector.

The small-cap stock has given multibagger returns in the last 1 year, soaring 425%. Meanwhile, it has also rallied over 200% in the last 6 months. Moreover, in the past 1 month, the scrip has advanced 22%.

The stock is just 16% away from its 52-week high of ₹49.90, hit in February 2026. Meanwhile, it touched its 52-week low of ₹7.26 in April 2025.

The Supreme Court on Monday refused to stay the implementation of Adani Enterprises Ltd’s ₹14,543 crore resolution plan for bankrupt Jaiprakash Associates Ltd (JAL), rejecting a challenge by mining major Vedanta Ltd.

A bench led by Chief Justice Surya Kant and Justice Joymalya Bagchi declined to interfere with orders of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), which had cleared the way for the plan’s rollout.

However, the court directed the committee overseeing the resolution to seek prior NCLAT approval before taking any major steps and asked the appellate tribunal to hear the matter expeditiously. The NCLAT is scheduled to hear the case on 10 April. Read more

Silver rate today declined on Monday, April 6, pared some of its earlier losses on Monday after a report signalled a diplomatic push for a ceasefire in the Iran war, although the metal remained under pressure as US President Donald Trump intensified his threats around the conflict that has roiled global markets.

The white metal recovered from steeper intraday declines after Axios reported that the US, Iran and regional mediators were discussing terms for a potential 45-day ceasefire that could eventually lead to an end to the fighting, citing sources familiar with the talks.

However, a stronger U.S. dollar, rising Treasury yields, and fading hopes of U.S. Federal Reserve interest rate cuts kept the precious metals in the red. Moreover, rising oil prices raised concerns about inflation.

Silver recovered almost ₹4000 or 1.6% from its intra-day low to day's high of ₹2,33,479 per kg. Meanwhile, Gold also rebounded over ₹2000 or 1.36% to the day's high of ₹1,50,319 per 10 grams.

Sensex recovered 864 points from its day's low to day's high of 73,595.07 while Nifty 50 advanced 271.5 points from its intra-day low to high of22,814.40.

The benchmark indices Nifty 50 and Sensex erased early gains but managed to edge into positive territory on Monday, April 6, following reports that the U.S. and Iran had received a proposal outlining an immediate ceasefire and a potential roadmap to end hostilities.

At 12:57 pm, Sensex rose 204.42 points or 0.28% to 73,523.97 while Nifty 50 added 73.05 points or +0.32% to 22,784.70

Reliance Industries share price declined over 4% on Monday amid heavy selling pressure, weighing on the broader market indices. Reliance shares fell as much as 4.13% to ₹1,295 apiece on the BSE.

Reliance Industries emerged as the top loser on the benchmark Nifty 50. The sharp decline in the index heavyweight also dragged the broader index lower, with the Nifty 50 slipping as much as 0.7% during the session.

The billionaire Mukesh Ambani-led Reliance Industries holds the second-highest weightage in the Nifty 50 at 8.87%, after HDFC Bank, which has a weight of 10.94%. The sharp correction in Reliance Industries share price also led to a significant erosion in its market capitalisation. The company’s market cap slipped below ₹18 lakh crore and stood at approximately ₹17.65 lakh crore, according to exchange data. Read more on RIL

Senco Gold share price surged more than 12% after the jewellery retail chain announced impressive results for the last quarter of the financial year, with revenue increasing by 46% year-on-year (YoY), fueled by strong demand during the wedding season despite the fluctuating gold market.

The company also gained from festive events and special days such as Valentine’s Day and Women’s Day.

Same-store sales growth (SSSG) reached 34%, reflecting robust performance at existing locations and ongoing consumer interest despite high gold prices.

Gold prices increased approximately 20% from the previous quarter to reach peak levels, then corrected by nearly 20% in mid-March, ultimately stabilizing with daily variations of 2–5%, as stated by the company in a regulatory filing. Year-on-year, the average gold prices saw a substantial rise, nearly doubling in comparison to the same timeframe last year.

Shares of IT major Wipro surged as much as 2.41% to ₹200.80 apiece in Monday's trading session on April 6 after the company bagged a long-term strategic transformation deal with Singapore's Olam Group.

The IT stock opened at ₹197.25 today, as compared to the previous close of ₹194.91 apiece on Thursday last week.

In an exchange filing on Monday, Wipro announced that the eight-year deal is projected to exceed $1 billion in total contract value, including a committed spend of $800 million.

Singapore-based food and agri-business major Olam Group, backed by Temasek Holdings, employs nearly 40,000 people worldwide. Read more

Even as the broader market remained under pressure, IT stocks stood out as one of the few pockets of strength on Dalal Street on Monday, April 6. The Nifty IT index rose more than 1%, extending its winning streak to a third straight session and taking its cumulative gain during this period to around 6%.

The move higher comes at a critical juncture for the sector, with the Q4FY26 earnings season set to begin next week. Investor focus has now firmly shifted to upcoming results from heavyweights such as TCS, Infosys and other frontline IT firms.

Among individual stocks, Coforge, Wipro, Tech Mahindra, Persistent Systems and Infosys advanced 1-2%, while HCL Tech, L&T Technology Services and Tata Consultancy Services (TCS) also traded with gains. On the other hand, Mphasis and LTIMindtree remained under pressure and were down around 0.5% each. Read more

Banking stocks traded largely lower on Monday following the release of lenders’ Q4 business updates over the weekend. The Nifty Bank index declined nearly 0.9%, with nine out of its fourteen constituent stocks trading in negative territory.

Kotak Mahindra Bank and IndusInd Bank shares led the decline, falling over 2% each. This was followed by ICICI Bank, Punjab National Bank (PNB), and IDFC First Bank, which slipped more than 1% each.

Meanwhile, HDFC Bank, AU Small Finance Bank, and Yes Bank were also trading in the red. Read more on Q4 updates

Shares of fashion retailer Trent, which operates apparel brands like Westside and Zudio, rallied up to 6% in early trade on Monday, April 6, following the March quarter (Q4) business update. The Tata group stock edged higher for the third day in a row, gaining a cummulative 13% during this period. It was also the best Nifty 50 gainer in today's trading session.

Trent share price rose as much as 5.8% to ₹3,759 even as the benchmark Nifty 50 traded marginally lower.

Trent, earlier today, announced a 20% year-on-year (YoY) growth in standalone revenue to ₹4,937 crore in Q4 FY26 from ₹4,106 crore in the same period a year ago. The growth matched the same pace as in Q1 after moderating during Q2 and Q3 and weighing heavily on Trent shares. Read more on Trent's business update

Oil prices extended gains on Monday, April 6, amid persistent concerns over supply disruptions caused by shipping issues in the key Middle Eastern producing region, stemming from the US-Israeli war with Iran.

Brent crude futures increased by $1.71, or 1.6%, reaching $110.74 per barrel. Meanwhile, US West Texas Intermediate crude futures rose above $115 per barrel.

Back home, crude oil prices on Multi Commodity Exchange (MCX) were also trading marginally higher by 0.16% at ₹10,422 per barrel.

On Thursday, WTI climbed over 11% while Brent surged around 8% in volatile trade, marking their biggest absolute gains since 2020, after US President Donald Trump promised to continue the attack on Iran.

The rupee gained 33 paise to 92.85 against the US dollar in early trade on Monday, following RBI's tightened rules to curb speculative positions, capping banks' net open positions at USD 100 million, even as global developments continued to act as a risk.

Forex traders said the domestic unit continued to reel under pressure due to unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation.

At the interbank foreign exchange, the local unit opened at 93.13, then gained further ground to touch 92.85 against the greenback, up 33 paise from its previous close.

On Thursday, the rupee logged one of its steepest single-day gains in many years and settled 152 paise higher at 93.18 against the US dollar after the Reserve Bank stepped in with a slew of measures to restrict banks from onshore forward markets.

Equity and forex markets remained closed on Friday due to Good Friday. (PTI)

Anand James, Chief Market Strategist, Geojit Investments Limited:

Nifty Outlook

Despite the downside gapped opening on Thursday that dragged Nifty to a new recent low, the pull back thereafter in the initial hour itself was sufficient to avert a regrouping of bears. That traders adopted a risk on approach ahead of a long weekend raises our preparedness to play a 24400 move, should 22770 give away. But, until it is cleared, except more dips. Be warned that prospects of 21900-21600 will rise, if 22525 gives away, but such a collapse is less expected today

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

"With uncertainty over the West Asia conflict looming large the market will continue to be volatile responding to potential good and bad news. The potential for further escalation of the war is high in the next few days. The market will be keenly watching the response of crude prices to war-related events. If, by any chance, the Hormuz Strait is opened, the market will respond positively even if the conflict continues.

Meanwhile there are some important trends in the market from which investors can benefit. IT segment has firmed up despite overall market weakness. There is a short-term trade in IT since the Q4 results will be better than expectations and the segment will benefit from the depreciation in rupee. Similarly, there is opportunity for long-term investors in banking stocks which are attractively valued. The sharp correction in prices in banking, particularly in private sector banks, is only due to the sustained FII selling. The fundamentals of the sector are strong and leading indicators suggest healthy deposit and credit growth. Patient investors will be rewarded."

Broader markets were also in the red, with the Nifty Midcap 100 index down around 0.8%, while the Nifty Smallcap 100 index was down 0.7%

The Indian stock market benchmark indices Nifty 50 and Sensex extended their fall on Monday, April 6, after opening flat as crude oil prices hit record high. Sensex fell 405 points or 0.5% to a low of 72,914.16 in early deals, while Nifty 50 lost 121 points or 0.5% to 22,591.70.

The Indian stock market opened flat on Monday, April 6, as gains across Asian markets, even as several regional exchanges remained shut for Easter, were offset by a rise in crude oil prices.

Meanwhile, geopolitical tensions continued to intensify. U.S. President Donald Trump warned of “hell” if Tehran failed to meet his deadline to reopen the Strait of Hormuz. His repeated threats to target civilian infrastructure, including power plants and bridges, if the strategic waterway is not reopened by Tuesday, have heightened market anxiety over possible retaliatory strikes by Iran on assets in Gulf nations.

Nifty 50 index formed a counterattack bullish candle signaling strong pullback after gap down opening. Nifty 50 formed a high-wave candle on the weekly chart, while continuing its pattern of lower highs and lower lows.

“A long green candle was formed on the daily chart after opening lower. Technically, this market action indicates a formation of bullish counter attack type candle pattern at the lows. The bearish chart pattern like lower tops and bottoms continued on the daily chart and Thursday’s low of 22,182 could now be considered as a new lower bottom of the pattern,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the buying seems to have started from near the support of 22,200 levels and Nifty 50 needs to sustain above the hurdle of 23,000 levels to consider this as a bottom reversal pattern. Immediate support is placed at 22,400 levels.

In the derivatives segment, notable call writing was observed at the 22,800 strike, followed by the 23,000 strike. On the Put side, significant writing activity was recorded at the 22,500 and 22,600 strike levels, indicating key support zones.

Sensex has defended the crucial 72,800 – 72,900 support zone, indicating strong demand at lower levels.

“Immediate resistance for Sensex is placed near 73,800 – 73,900, and a sustained move above this zone could trigger further upside momentum. On the downside, 72,800 remains a key support, and a breach below this level may lead to renewed selling pressure,” said Aakash Shah, Research Analyst, Choice Equity Broking.

Overall, he believes the market is in a high-volatility consolidation phase, and the near-term strategy favors a buy-on-dips approach near support while remaining cautious near resistance levels, until clearer global cues emerge.

The dollar was steady. The dollar index, which measures the US currency against six rivals, was at 100.2. The euro eased 0.13% to $1.151, while sterling last fetched $1.3187. The Japanese yen weakened to 159.77 per US dollar.

Banking stocks like HDFC Bank, Yes Bank, IDBI Bank, Kotak Mahindra Bank, Union Bank of India and RBL Bank will remain in focus after the companies reported their Q4 business update over the weekend, ahead of the beginning of the Q4 results 2026 season.

Gold prices declined more than 1%, pressured by a stronger dollar and fading hopes of US Federal Reserve interest rate cuts. Spot gold price fell 1.2% to $4,620.68 per ounce, while US gold futures for April delivery lost 0.7% to $4,647.10. Spot silver price fell 1% to $72.28 per ounce.

Benchmark Japanese government bond (JGB) yields rose to a fresh near-three-decade high on Monday. The benchmark 10-year JGB yield rose 2 basis points (bps) to 2.400%, the highest since February 1999. The five-year yield rose 2 bps to 1.815%.

US job growth rebounded more than expected in March. US nonfarm payrolls increased by 178,000 jobs last month, the most since December 2024, after a downwardly revised 133,000 drop in February. Economists polled by Reuters had forecast payrolls rising by 60,000 jobs after a previously reported 92,000 decrease in February.

US President Donald Trump appeared to set a new, final deadline for Iran to reopen the Strait of Hormuz, threatening Tehran with “Hell” in an expletive-laden post on his Truth Social platform. Trump’s fresh threat to Iran came after the US President’s repeated threats to target Iran’s critical and energy infrastructure if Tehran did not accept a truce deal or reopen the Strait of Hormuz.

Asian markets traded higher as investors watched out for the latest developments in the US-Iran war. Japan’s Nikkei 225 gained 0.62%, and the Topix rose 0.23%. South Korea’s Kospi rallied 1.8% while the Kosdaq advanced 0.98%. Markets in Hong Kong, China and Taiwan are closed for a holiday.

Crude oil extended its recent gains after President Donald Trump signaled an escalation in the Iran war, heightening the risk of an energy shock already weighing on the global economic outlook. Gold fell and stocks rose as dip buyers emerged.

Brent climbed 1.4% to trade above $110 a barrel, as Trump renewed threats early Sunday to attack Iranian infrastructure if the key energy-shipping route through the Strait of Hormuz remains closed. He followed it later with another that said: “Tuesday, 8:00 P.M. Eastern Time!” with no further explanation.

The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 22,734 level, a discount of nearly 32 points from the Nifty futures’ previous close.

The Indian stock market is expected to open lower on Monday, following mixed cues from global markets, as investors watch out for the latest developments over the intensifying US-Iran war in the Middle East and surging crude oil prices.