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Informist, Monday, Apr. 27, 2026

By Simran Rede

MUMBAI – Market participants seemed cautious on the outlook for the Nifty 50 as they bought call and put ocntracts expiring Tuesday to likely hedge against volatility owing to expiry. In the near term, analysts expect the market to react to the resumption of US–Iran talks and hopes of opening the Strait of Hormuz. They also expect the market to react to the "stronger-than-expected" earnings for the March quarter.

Although crude oil prices continue to stay above the $100-per-barrel mark, investors are likely to focus on other positive developments keeping the bias positive for the Nifty 50 Tuesday, analysts said. "...domestic-oriented sectors--particularly Banking, FMCG, capital goods, consumer discretionary, and manufacturing-related businesses--supported the recovery," Vinod Nair, head of research at Geojit Investments, said in a note.

Investors are likely to turn positive on the information technology sector as these stocks have corrected recently and are now at comfortable valuations, analysts said. Additionally, the overall market sentiment is said to be improved on renewed hopes of a truce deal. India VIX, the fear gauge of Dalal Street, mirrored the optimism and ended 6.8% lower at 18.3775.

Premiums of deep out-of-the-money call options expiring Tuesday fell 28-60%. However, some traders bought call options at the 24100 strike, indicating a slight positive bias. However, premiums were very meagre. Meanwhile, on the put side, traders sold contracts at extreme out-of-the-money strikes with their premiums declining 71-92%.

The highest concentration of call contracts expiring Tuesday was at 25000, followed by 24500. On the put side, the concentration was at 24000 strike. The maximum addition in open interest was 24100-call and 24000-put contracts. Traders added most number of contracts expiring next week at 24100-call and 22800-put options. 

Technical and derivative analysts peg the Nifty 50's immediate resistance at 24500-24600 points and support at 23800 points. Monday, the 50-stock index settled at 24092.70, up 194.75 points or 0.8%, and the BSE Sensex ended at 77303.63, up 639.42 points or 0.8%. "Inflation risks remain a key concern, and market participants are expected to closely monitor the upcoming FEDs policy announcement, particularly its medium-term interest rate trajectory," Nair of Geojit Investments, said in the note.

--Nifty 50 April closed at 24127.00, up 204.20 points; 34.30-point premium to the spot index

--Nifty 50 May closed at 24220.10, up 193.10 points; 127.40-point premium to the spot index

--Nifty 50 June closed at 24340.00, up 188.50 points; 247.30-point premium to the spot index

HDFC Bank, Reliance Industries, ICICI Bank, Infosys, Tata Consultancy Services, Sun Pharmaceutical Industries, Bharti Airtel, Wipro, State Bank of India, Axis Bank, Varun Beverages, Bajaj Finance, Larsen & Toubro, Kotak Mahindra Bank, HCL Technologies, Dixon Technologies (India), and Vodafone Idea were the most actively traded underlying stocks Monday.  End

Edited by Akul Nishant Akhoury

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