Nifty 50 slips 0.13%; Sensex down 203 points amid U.S.-Iran tensions, metal stocks gain

Market Update at 2:20 PM: Indian benchmark indices traded largely flat on Tuesday as investors remained cautious while assessing the latest developments in the U.S.–Iran relationship.

The Nifty 50 declined 0.13 per cent, or 35.25 points, to 24,057.95, while the Sensex fell 0.26 per cent, or 203 points, to 77,089.89 during the session.

In contrast, broader markets outperformed the frontline indices. The Nifty MidCap index rose 0.38 per cent, while the Nifty SmallCap index gained 0.89 per cent, indicating continued buying interest in mid- and small-cap stocks.

On the sectoral front, the Nifty PSU Bank index emerged as the worst performer, dragging the market lower. Weakness was also seen in the Nifty Bank and Nifty Private Bank indices. Meanwhile, the Nifty Metal index led the gains among sectors, supported by rising commodity prices.

In the global commodities market, Brent crude prices advanced 1.24 per cent to USD 109.6 per barrel. The increase came as the key oil transit route, the Strait of Hormuz, remained shut. This development comes amid ongoing tensions, with the U.S. reviewing Iran’s proposal to end the conflict, which is contingent on Washington lifting the blockade.

Market Update at 12:23 PM: Indian benchmark indices traded largely flat on Tuesday as investors remained cautious while assessing the latest developments in the U.S.–Iran relationship.

The Nifty 50 declined 0.13 per cent, or 35.25 points, to 24,057.95, while the Sensex fell 0.26 per cent, or 203 points, to 77,089.89 during the session.

In contrast, broader markets outperformed the frontline indices. The Nifty MidCap index rose 0.38 per cent, while the Nifty SmallCap index gained 0.89 per cent, indicating continued buying interest in mid- and Small-Cap stocks.

On the sectoral front, the Nifty PSU Bank index emerged as the worst performer, dragging the market lower. Weakness was also seen in the Nifty Bank and Nifty Private Bank indices. Meanwhile, the Nifty Metal index led the gains among sectors, supported by rising commodity prices.

In the global commodities market, Brent crude prices advanced 1.24 per cent to USD 109.6 per barrel. The increase came as the key oil transit route, the Strait of Hormuz, remained shut. This development comes amid ongoing tensions, with the U.S. reviewing Iran’s proposal to end the conflict, which is contingent on Washington lifting the blockade.

Market Update at 09:35 AM: The Nifty 50 and the Sensex traded lower on Tuesday as investors assessed the latest developments in the U.S.-Iran relationship, which continued to influence global sentiment.

The Nifty 50 was down 0.11 per cent or 27.45 points at 24,065.25, while the Sensex declined 0.20 per cent or 148.65 points to trade at 77,168.64.

Despite the weakness in benchmark indices, broader markets outperformed. The Nifty MidCap index rose 0.36 per cent, while the Nifty SmallCap index gained 0.81 per cent, indicating sustained buying interest in mid- and small-cap stocks.

On the sectoral front, the Nifty PSU Bank index emerged as the worst-performing sector. Banking stocks remained under pressure, with both the Nifty Bank and the Nifty Private Bank indices also trading in the red. In contrast, the Nifty Metal index posted the strongest gains among sectoral indices.

In the commodities market, Brent crude prices edged higher by 0.5 per cent to USD 108.8 per barrel. Prices remained elevated as the key global oil transit route, the Strait of Hormuz, stayed shut. Meanwhile, the U.S. continued to evaluate Iran’s proposal to end the conflict, which is reportedly contingent on Washington lifting the blockade.

Pre-Market Update at 7:38 AM: Indian benchmark indices, the Sensex and Nifty 50, are likely to open cautiously on Tuesday as investors remain watchful of developments in U.S.–Iran peace talks and await key central bank decisions scheduled this week. Sentiment remains fragile after U.S. President Donald Trump expressed dissatisfaction with Iran’s proposal, citing its failure to address the nuclear program.

Gift Nifty was hovering near the 24,042 mark, trading at a premium of nearly 74 points over the previous close of Nifty futures, indicating a negative start for domestic equities. Asian markets traded on a mixed note, while U.S. markets ended largely flat overnight, reflecting global uncertainty.

The U.S.–Iran conflict continues to remain unresolved, with negotiations showing little progress. The ongoing tensions have raised concerns over energy supply disruptions, particularly with the Strait of Hormuz largely shut, impacting global crude dynamics.

Japanese government bond yields are nearing a multi-decade high ahead of the central bank’s policy decision. The benchmark 10-year yield rose 0.5 basis points to 2.475 per cent, approaching levels last seen in 1997, indicating tightening financial conditions globally.

Crude oil prices edged higher amid stalled peace talks. Brent crude rose 0.4 per cent to USD 108.68 per barrel, while WTI crude gained 0.6 per cent to USD 96.96. Meanwhile, the U.S. dollar index recovered slightly, rising 0.1 per cent to 98.448 after a two-day decline.

From a derivatives standpoint, the Put-Call Ratio (PCR) stands at 0.97, suggesting a balanced market sentiment. On the Put side, significant open interest is concentrated at the 24,000 strike, indicating near-term support at this level. On the Call side, strong open interest is seen at the 24,500 and 25,000 strikes, marking these as key resistance zones.

Technically, the Nifty 50 is trading within a crucial range. Immediate resistance is placed between 24,220 and 24,320, where the 50-day moving average is positioned, making it a key hurdle for further upside. A sustained breakout above this zone could signal strengthening momentum. On the downside, 23,814 remains a critical support level, representing the recent swing low. Holding above this level keeps the broader trend positive, while a breakdown could trigger renewed selling pressure, especially amid heightened volatility due to the April F&O expiry.

Several major companies are set to announce their Quarterly Results today, including Maruti Suzuki India, Bandhan Bank, Brigade Hotel Ventures, Canara HSBC Life Insurance Company, Castrol India, CEAT, Dalmia Bharat, Greenply Industries, Garden Reach Shipbuilders & Engineers, Piramal Pharma, REC Limited, and Star Health and Allied Insurance, among others.

Steel Authority of India Limited (SAIL) remains on the F&O ban list for April 28.

On April 24, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,151.48 crore. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 4,123.92 crore, providing support to the market.

On Monday, Indian markets snapped a three-day losing streak and closed higher. The Sensex gained 639.42 points, or 0.83 per cent, to settle at 77,303.63, while the Nifty 50 rose 194.75 points, or 0.81 per cent, to close at 24,092.70.

U.S. markets ended on a mixed note. The Dow Jones Industrial Average declined 62.67 points, or 0.13 per cent, to 49,168.04. The S&P 500 edged up 8.85 points, or 0.12 per cent, to 7,173.93, while the Nasdaq Composite gained 50.50 points, or 0.20 per cent, to close at 24,887.10.

Among stocks, Nvidia surged 4.1 per cent, while AMD fell 3.83 per cent and Intel rose 2.93 per cent. Apple declined 1.27 per cent, whereas Tesla gained 0.6 per cent. Verizon advanced 1.5 per cent, while Domino’s Pizza dropped 8.8 per cent.

Gold prices remained steady amid uncertainty over U.S.–Iran talks and upcoming central bank decisions. Spot gold rose 0.2 per cent to USD 4,693.04 per ounce, while silver gained 0.5 per cent to USD 75.91 per ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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