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Informist, Wednesday, Apr. 1, 2026

 

By Simran Rede

 

MUMBAI – The Indian equity market started the financial year 2026-27 (Apr-Mar) on a positive note amid some hopes of de-escalation in the US-Iran conflict. Among the new tidings on the war in West Asia, US President Donald Trump is set to address the nation early Thursday with an 'important' update, White House press secretary Karoline Leavitt said on social media. Traders added fresh call positions in the out-of-the-money while selling put options, indicating a further rise in the index.

 

In a phone interview with NBC News early Tuesday, Trump said that "we're doing great" and that the conflict is "coming to an end." With the West Asia war entering its second month, Trump said that he expects the US to "leave" Iran within two or three weeks, and Iran does not have to make a deal with the US for the war to end, NBC News reported.

 

Following Trump's statements and Iranian Foreign Minister Abbas Araghchi's confirmation that messages had been exchanged with the US, either directly or through other countries, crude oil prices eased after rising for four consecutive days. At 1620 IST, the June contract of Brent Crude oil futures on the Intercontinental Exchange was down 0.7% at $103.21 per barrel.  

 

On Wednesday, the Nifty 50 closed 1.6% higher at 22679.40 points and the BSE Sensex ended 1.7% higher at 73134.32 points. The 50-stock index snapped a two-session losing run after falling over 4%. Traders bought new call contracts of out-of-the-money options, which were higher than put writing, indicating a lack of strong stance among market participants, Vatsal Bhuva, a technical and derivatives analyst at LKP Securities, said.

 

Currently, the 22500 strike holds the highest open interest on the put side, suggesting a strong base and key support for the Nifty 50 index, he said. On the upside, the 23000 strike has the highest open interest on the call side, with fresh additions, indicating a strong resistance, he added.

 

The 24000 strike price had the highest net change and concentration of open interest, with over 2 million new positions, while its premium fell 10% to INR 16.85. Additionally, there was some aggressive put selling at 20200-21000 strike prices, with premiums falling by 37-78%.

 

--Nifty 50 April closed at 22830.00, up 403.80 points; 150.60-point premium to the spot index

--Nifty 50 May closed at 22960.00, up 394.60 points; 280.60-point premium to the spot index

--Nifty 50 June closed at 23103.00, up 364.30 points; 423.60-point premium to the spot index

 

InterGlobe Aviation, HDFC Bank, ICICI Bank, State Bank of India, Tata Consultancy Services, Ashok Leyland, Larsen & Toubro, Infosys, Vedanta, Reliance Industries, BSE, Bharat Electronics, Hindalco Industries, Eternal, National Aluminium Co., Axis Bank, Avenue Supermarts, Multi Commodity Exchange of India, and Tata Steel were the most actively traded underlying stocks Wednesday.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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