Stock Market Today Highlights: Sensex ends 500 pts higher, extends winning run to 4th day; Nifty tops 23K

Going ahead, the immediate resistance for Nifty is placed in the 23230-23250 zone. Any sustainable move above this zone could result in Nifty extending its pullback towards 23400, followed by 23600 in the short term. On the downside, the zone of 23020–23000 zone is likely to act as an immediate support.

— Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The domestic market extended its recovery trend, although the session opened on a weak note amid elevated crude prices and caution ahead of Trump’s deadline for Iran. Gains remained largely confined to IT, FMCG, and metals, while broader market breadth stayed weak, reflecting persistent caution. IT stocks advanced on valuation comfort and support from INR-related benefits, while FMCG gained on positive pre-result commentary from large players.

Investors are also awaiting the RBI policy decision, with rates widely expected to remain at the status quo.

In the near term, market direction is likely to remain driven by geopolitical developments and selective value buying, with focus gradually shifting to the earnings season for assessing potential downgrade risks arising from higher crude prices and currency volatility.

— Vinod Nair, Head of Research, Geojit Investments

Sectorally, the Nifty IT emerged as the top index gainer with a 2.50% rise today. IT was followed by the Nifty Realty index. Only PSU bank index was the major sectoral loser today.

The broader market trend was mixed as Nifty Midcap 100 index rose 0.20% and Nifty Smallcap 100 index was lower by 0.06%.

Top Sensex gainers included IT stocks, namely TCS, HCL Technologies and Infosys. On the flip side, Trent, IndiGo and SBI were the top losers.

Benchmark indices Sensex and Nifty staged a smart rebound by erasing morning and ended higher for the fourth session in a row today. After falling over 800 points in early trade, Sensex ended at 74,616.58, up 509.73 points or 0.69%.

Nifty 50 closed the session at 23,123.65, gaining 155.40 points or 0.68%.

Prem Nair, Group CEO, IHH Healthcare, told CNBC-TV18 that it is looking to increase take in the Fortis Hospitals to 50% over time. Currently, they hold 31% stake in the company. Following this news, Fortis shares were up by 4% in intraday deals.

For Nifty episodes involving 4 or more consecutive negative months and measuring returns from the end of the full streak, the subsequent outcomes have historically been strong: across the 7 completed cases, the average return was 12.2% over 3 months, 22.4% over 6 months, and 40.7% over 1 year, while the median return was 13.9%, 17.0%, and 20.8% respectively.

The gap between average and median, especially over 6 months and 1 year, suggests that a few very strong rebounds lifted the average, while the median gives a cleaner sense of the more typical outcome. In short, these 4+ month losing streaks have been rare, but once they ended, forward returns were usually favourable

Tata Steel pared morning losses and traded higher after the Q4 business update. In FY2026, Tata Steel India achieved ‘best-ever annual’ crude steel production of 23.48 million tons. Production was up 8% YoY primarily aided by Kalinganagar ramp up, partly offset by shutdown of ‘G’ blast furnace for relining at Jamshedpur. In 4QFY26, crude steel production stood at 6.25 million tons, up 15% YoY.

A recent study by Monarch AIF highlights strong returns from midcap and smallcap benchmark indices following rate cut cycles of more than 100 bps. The report analysed rate cut cycles over the past 25 years and found that the average 1- and 2-year returns for the Nifty Midcap 100 index stood at 54.46% and 86.7%, respectively. The Nifty Smallcap 100 rose approximately 54% and 79%, respectively, over similar periods following rate cut cycles.

Sensex erased all losses and turned in the green in the afternoon trade today. IT stocks emerged as key gainers.

Adani Power said that a Meeting of the Board of Directors of the Company will be held on Wednesday, April 29, 2026, to consider and approve, inter alia, the audited financial results for the quarter and year ended March 31, 2026.

JP Morgan has upgraded Hindalco and Vedanta to ‘overweight’ (previously ‘neutral’) as it sees substantial earnings growth from higher LME Al prices and favourable FX over the next several quarters.

“The Middle East conflict has put us on the edge of a bullish supply-driven event horizon, and recent smelter outages will likely last for months even after shipping through the Strait of Hormuz eventually returns. Commodity tailwinds should help ease recent debt concerns and valuations have turned attractive with current stock prices for HNDL/VEDL implying an LME Al price of ~$2,900/t (vs. spot ~$3,500/t),” said the brokerage.

It has a target price of ₹850 on Vedanta and ₹1125 on Hindalco.

Monsoon rains in India are likely to be below the long-term average this year, as an expected El Niño weather pattern during the four-month season could reduce precipitation, according to a private forecaster.

Rainfall during the June-September period is forecast to be 94% of normal, Skymet Weather Services Pvt. said on Tuesday. The prediction has a margin of error of 5%, it said. (Source: Reuters)

Havells today informed that its board will meet on April 22 to consider and approve the Standalone and Consolidated Audited Financial Results of the company for the fourth quarter and financial year ended 31st March, 2026. Additionally, the board will also recommend Final Dividend for the financial year ended 31st March, 2026.

Swan Defence and Heavy Industries (SDHI) jumped 5% to hit the upper price band at ₹1,791.40 apiece on NSE after the company announced that it has secured a major order from Energy ONE Limited for the construction of four (4) 92,500 DWT dual-fuel ammonia bulk carriers, which is said to be the first for the country. Read more

At a time when foreign institutional investors (FIIs) have emerged as persistent net sellers, offloading $12.7 billion in March alone, one might expect sharp swings in the largest Indian companies. Yet, that has not played out. The large-cap stocks have displayed remarkable resilience, with "normal impact costs and no jumps in trading activity", noted DSP Mutual Fund.

Data shows that 30 of Nifty 50 stocks have lost 5% or more in the last one month, with the sharpest drawdown seen of 15% in IndusInd Bank. Yet, valuations of these large-cap stocks have quietly drifted towards levels that have historically coincided with periods of deep pessimism, highlighted by the fund house in its April edition of Netra report.

Bank Nifty index continues to face resistance in the 52,800 – 53,000 zone, and only a sustained move above this range can trigger upside towards 53,600 – 54,000. On the downside, immediate support is placed near 51,800, followed by stronger support at 51,300. The broader structure remains under pressure, and volatility suggests that any recovery is still in an early and uncertain phase, said Ponmudi R, CEO of Enrich Money.

Nifty IT index rallied over 1%, with all its constituents trading in the green. Wipro, Mphasis, HCL Technologies, OFSS and Persistent Systems were the top index gainers.

Nifty 50 continues to face strong resistance near the 23,000 mark, which remains a critical barrier for any meaningful upside. On the downside, the 22,600 – 22,500 zone is now acting as an important demand area for short-term stability, followed by stronger support at 22,300. The structure remains cautious, and only a decisive breakout above 23,000 can shift momentum towards a stronger recovery phase, said Ponmudi R, CEO of Enrich Money.

Swan Defence and Heavy Industries share price was locked in at 5% upper circuit of ₹1,703.45 apiece on the BSE, after the company secured a Category 4 order, worth in the ₹1,500 - ₹3000 crore range, from Energy ONE Limited for the construction of four 92,500 DWT dual-fuel ammonia bulk carriers.

Bitcoin prices moved past $70,000 but couldn’t hold the level as fresh geopolitical tensions weighed on markets, with the US taking a tougher stance on Iran. In response, equities saw a rapid ~$280 billion sell-off within 30 minutes, while oil prices climbed to $114. Meanwhile, derivatives activity is picking up, Bitcoin futures open interest has jumped 8.09% in the last 24 hours, showing traders are increasing leveraged positions. Bitcoin is now at a crucial zone, holding above $70,000 could open room toward $71,500 – $73,000, while slipping below $69,000 may lead to a short-term drop toward $68,500, said CoinSwitch Markets Desk.

Gallantt Ispat share price jumped over 13% after the company’s steel sales in Q4FY26 rose 9% YoY to 0.23 mt. Steel production was up 9% YoY at 0.24 mt. Capacity utilisation was at 91% in Q4.

Silver prices on MCX recouped early losses to trade higher. MCX silver rate today traded at ₹2,33,580 per kilogram, up by ₹201, or 0.09%. Silver prices touched a high of ₹2,34,051 level so far.

Gold and silver prices in India opened lower. MCX gold rate for June expiry contract opened 0.14% lower at ₹1,49,759 per 10 grams as against its previous close of ₹1,49,981 level.

MCX silver rate for May futures expiry opened 0.59% lower at ₹2,32,000 per kg as against its previous close of ₹2,33,379 level.

Eternal, InterGlobe Aviation, Mahindra & Mahindra (M&M), Axis Bank and SBI were the top losers on Sensex, while Bajaj Finance, Tech Mahindra, ITC, HCL Technologies and Sun Pharmaceutical Industries were the top index gainers.

Broader markets also reeled under selling pressure. Nifty Midcap 100 index declined over 1%, while the Nifty Smallcap 100 index was down 0.5%.

Among sectors, barring Nifty Metals, all other sectoral indices were trading in the red, with Nifty Auto, Nifty PSU Bank, Nifty Pharma, Nifty FMCG and Nifty Realty falling the most.

The Indian stock market opened lower on Tuesday amid worries over the US-Iran war. The Sensex opened 372.49 points, or 0.50%, lower at 73,734.36, while the Nifty 50 declined 129.55 points, or 0.56%, to open at 22,838.70. The Bank Nifty index opened at 52,258.70, down 350.40 points, or 0.67%.

The Indian rupee opens 6 paise higher at 93 per US dollar as against Monday’s close of 93.06 level.

In March FPIs sold a record ₹1,22,182 crore worth of stocks and the selling spree continued in April. Since financials are the largest segment of FPIs’ assets under custody, bulk of the selling also is in this segment. This has resulted in a paradoxical situation of FPIs selling high quality attractively valued stocks which holds significant long-term growth potential in India. Also, the banking segment is experiencing decent credit growth with high asset quality. FPI selling is purely short-term guided only by the weakness in the rupee and high bond-yields in the US. Patient investors who can sit through this period of short-term aberration have an opportunity with low risk to buy the high quality financials, particularly the leading banking stocks, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments

Trump’s ultimatum to Iran to “open the Hormuz Strait or face hell” will be viewed with interest by market participants despite the president’s notorious inconsistency in threats. Growth stocks like digital platform stocks which have corrected in this downturn are now witnessing accumulation since their valuations have become reasonable, he added.

Chandan Taparia has recommended three stocks to buy today, 7 April 2026 - BSE, Larsen & Toubro and Titan Company shares.

BSE | Buy | Target Price: ₹3,160 | Stop Loss: ₹2,890

Larsen & Toubro | Buy | Target Price: ₹3,950 | Stop Loss: ₹3,620

Titan Company | Buy | Target Price: ₹4,500 | Stop Loss: ₹4,120

Gold prices were steady amid cautiousness ahead of a deadline set by US President Donald Trump on reopening the Strait of Hormuz. Spot gold price was steady at $4,646.69 per ounce, while US gold futures for June delivery fell 0.2% to $4,674.40. Spot silver price fell 0.9% to $72.11 per ounce.

Crude oil prices extended gains as Trump threatened stronger action on Iran if it fails to reopen the Strait of Hormuz, a key global oil transit chokepoint. Brent crude futures rose 0.5% to $110.34 a barrel, while US West Texas Intermediate crude futures were up 1.1% at $113.67.

Sumeet Bagadia recommends five breakout stocks to buy on Tuesday, April 7: Lloyds Metals And Energy, Fsn E-Commerce Ventures, Aditya Birla Sun Life Amc, Steel Authority of India, and Praj Industries.

Nifty 50 index formed a bullish candlestick pattern with a higher high and a higher low, signaling continuation of the pullback from the extreme oversold territory. Bank Nifty index formed a morning star pattern on the daily chart.

US stock market ended higher on Monday as investors looked for signs of progress toward the US-Iran ceasefire deal. The Dow Jones Industrial Average rose 165.21 points, or 0.36%, to 46,669.88, while the S&P 500 gained 29.33 points, or 0.45%, to 6,612.02. The Nasdaq Composite closed 117.16 points, or 0.54%, higher at 21,996.34.

Asian markets traded higher, following overnight gains on Wall Street, as investors continued to assess developments over the US-Iran war. Japan’s Nikkei 225 gained 0.26% and the Topix rose 0.23%. South Korea’s Kospi rallied 1.5%, and the Kosdaq rose 0.85%. Hong Kong markets were closed for the Easter holiday.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark indices, Nifty 50 and Sensex today. The Gift Nifty was trading around 22,895 level, a discount of nearly 162 points from the Nifty futures’ previous close.

The Indian stock market is expected to open lower on Tuesday, amid worries over the intensifying US-Iran war in the Middle East.