NIFTY FIGHTS VOLATILITY, ENDS ABOVE 24,350; PSU BANKS, AUTOS SHINE

The key equity indices edged higher on Monday, extending gains for a second consecutive session, though volatility persisted amid uncertainty surrounding the West Asia conflict and the Iran-US ceasefire. The Nifty closed above the 24,350 mark, supported by PSU banks and auto stocks, while IT and metal shares remained under pressure.

The session began on a mildly positive note with intermittent buying in the morning. However, profit booking in the afternoon erased most of the intraday gains, leading to a largely flat close. Renewed tensions around the reopening of the Strait of Hormuz kept global sentiment fragile.

Investors are now closely tracking the ongoing Q4 earnings season, along with movements in crude oil, gold, and the rupee for further cues.

The S&P BSE Sensex jumped 26.76 points or 0.03% to 78,520.30. The Nifty 50 index rose 11.30 points or 0.05% to 24,364.85. In the past two consecutive trading session, the Sensex, Nifty jumped 0.68% and 0.70%

JSW Steel (up 2.80%), State Bank of India (up 2.20%) and ICICI Bank (up 0.56%) supported the Nifty today.

In the broader underperformed the frontline indices. The BSE 150 MidCap Index fell 0.09% and the BSE 250 SmallCap Index shed 0.15%.

The market breadth was negative. On the BSE, 1,840 shares rose and 2,548 shares fell. A total of 198 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, surged 9.21% to 18.79.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper declined 0.10% to 6.898 compared with the previous session close of 6.905.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.0900 compared with its close of 92.9100 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement shed 0.68% to Rs 153,563.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.16% to 98.26.

The United States 10-year bond yield rose 0.47% to 4.263.

In the commodities market, Brent crude for June 2026 settlement fell $4.18 or 4.62% to $94.56 a barrel.

Global Markets:

US Dow Jones futures fell 292 points, indicating a weak start for Wall Street later today.

European shares declined on Monday as escalating tensions between United States and Iran weighed on sentiment. The trigger was the reported seizure of an Iranian-flagged vessel near the Strait of Hormuz, raising concerns over potential disruptions to global energy flows and weakening diplomatic efforts.

Germany�s producer prices fell 0.2% YoY in March 2026, moderating from a 3.3% decline in February and marking the mildest fall in a year. On a monthly basis, prices rose 2.5%, the sharpest increase since August 2022, driven largely by a 7.5% jump in energy costs.

Asian indices ended higher, though investors remained cautious amid ongoing geopolitical developments in the Middle East.

According to reports, Donald Trump said a US Navy guided missile destroyer had fired on and disabled an Iranian-flagged cargo vessel in the Gulf of Oman before Marines boarded and seized it.

The move marks an escalation following earlier incidents where Iran reportedly fired on commercial vessels attempting to transit the Strait of Hormuz, a key global oil transit route.

Since last week, the US has been enforcing a naval blockade on ships entering and exiting Iranian ports. Iran has termed the move a violation of the ceasefire and cited it as a reason for calling off planned negotiations in Islamabad.

Trump warned that the US would target critical infrastructure in Iran if Tehran did not agree to Washington�s terms.

Meanwhile, China kept its benchmark lending rates unchanged for the 11th straight month, as rising geopolitical tensions and energy costs cloud the growth outlook.

The decision follows China�s Q1 growth of 5%, up from 4.5% in the previous quarter and at the upper end of its annual target. However, Beijing has lowered its 2026 growth target to a range of 4.5% to 5%, the least ambitious since the 1990s.

In the previous session, US markets ended higher after Iran declared the Strait of Hormuz open following a ceasefire between Israel and Lebanon.

The S&P 500 rose 1.2% to 7,126.06, crossing the 7,100 mark for the first time. The Nasdaq Composite gained 1.52% to 24,468.48, extending its winning streak to 13 sessions. The Dow Jones Industrial Average advanced 868.71 points, or 1.79%, to 49,447.43.

Iran�s Foreign Minister Seyed Abbas Araghchi had earlier said that commercial shipping through the Strait of Hormuz would remain open during the ceasefire period.

Trump had also stated that leaders of Israel and Lebanon had agreed to a 10-day ceasefire, which came into effect last week.

Stock in Spotlight:

HDFC Bank shed 0.56%. The bank reported 9.11% jump in standalone net profit to Rs 19,221.05 crore in Q4 FY26 as against Rs 17,616.14 crore in Q4 FY25. Total income rose marginally to Rs 89,808.90 crore in Q4 FY26 from Rs 89,487.99 crore in the corresponding quarter last year.

ICICI Bank rose 0.63%. The private sector lender reported 8.5% rise in standalone net profit to Rs 13,702 crore in Q4 FY26 from Rs 12,630 crore in Q4 FY25. Net interest income (NII) increased by 8.4% year-on-year (YoY) to Rs 22,979 crore in Q4 FY26. Net interest margin was 4.32% in Q4 FY26 as against 4.41% in Q4 FY25.

Billionbrains Garage Ventures (Groww) shed 0.93%. The company reported a 122.06% jump in consolidated net profit to Rs 686.35 crore on an 87.92% surge in revenue from operations to Rs 1,505.37 crore in Q4 FY26 over Q4 FY25.

Trent rallied 3.33% after the company�s board will meet on Wednesday, 22 April 2026 to consider a bonus issue of equity shares. The board will also consider FY26 results, dividend, and potential fund raise.

Jio Financial Services fell 2.83% after the company reported a 13.88% drop in consolidated net profit to Rs 272.22 crore despite 106.49% surge in revenue from operations to Rs 1018.51 crore in Q4 FY26 over Q4 FY25.

Aditya Birla Money jumped 7.01% after the company reported a 100.97% surge in consolidated net profit to Rs 18.73 crore on 30.51% jump in revenue from operations to Rs 129.79 crore in Q4 FY26 over Q4 FY25.

Mastek declined 3.26% after its consolidated net profit declined 2.03% quarter-on-quarter (QoQ) to Rs 106.15 crore, despite a 3.56% QoQ increase in revenue from operations to Rs 938 crore in Q4 FY26.

Bharat Heavy Electricals rose 2.81% after the company reported strong operational performance for FY 2025-26. The company posted a turnover of around Rs 32,350 crore on a provisional and unaudited basis, up 18% from the previous year. Total order inflows for the year stood at approximately Rs 75,000 crore. The outstanding order book at the end of FY 2025-26 was around Rs 2.4 lakh crore.

Indian Energy Exchange fell 7.81% after the Central Electricity Regulatory Commission issued a draft notification on market coupling norms. The draft proposes Grid India as the Market Coupling Operator. It will aggregate bids and carry out uniform price discovery across exchanges. The proposal is part of the �Central Electricity Regulatory Commission (Power Market) (Second Amendment) Regulations, 2026�. Stakeholder comments have been invited until 16 May 2026.

Deccan Gold Mines surged 13.18% amid strong investor interest following media reports of progress in its flagship gold mining project. The stock rallied after reports that the Jonnagiri Gold Project in Kurnool district in Andhra Pradesh is nearing commercial production, expected in early May 2026.

Hathway Cable & Datacom slipped 4.49% after the company reported an 11.33% decline in consolidated net profit to Rs 11.33 crore, despite a 6.37% increase in revenue from operations to Rs 545.85 crore in Q4 FY26 over Q4 FY25.

Sterling and Wilson Renewable Energy zoomed 9.08% after the company said it has secured new domestic orders worth around Rs 3,550 crore, boosting its order inflow for FY26.

Interarch Building Solutions rallied 3.90% after the company announced that it has secured an order worth Rs 60 crore for the design, engineering, manufacturing, supply and erection of a pre-engineered steel building system.

PNGS Reva Diamond Jewellery added 0.56% after the company reported strong sales performance on the occasion of Akshay Tritiya, marking a robust start to the financial year 2026-27.