Nifty closes flat as uncertainty & tensions resurface over the weekend

Brent crude is back above 95$ per barrel once again

Apr 20, 2026

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Markets Today

Nifty opened with a modest gap up of 38 points at 24,391, following an eventful weekend where Iran first signalled the opening of the Strait of Hormuz and later hinted at a closure, triggering sharp volatility in oil prices. The index remained choppy early on, briefly slipping to the 24,250–24,300 zone before recovering to the 24,420–24,430 range within the first hour.

Momentum picked up through the late morning, with Nifty gradually moving higher to test the 24,450–24,470 zone around noon. However, it failed to hold gains and started drifting lower post 1 PM.

In the second half, selling pressure intensified, dragging the index below 24,400 and toward the 24,350 zone. A brief bounce around 2:30 PM pushed Nifty back near 24,420, but the recovery was short-lived.

Fresh selling in the final hour pulled the index back toward the 24,330–24,350 range. Nifty eventually closed at 24,364.85, up just 0.05%, marking a volatile session that began on a positive note but ended largely flat amid late selling pressure. Bank Nifty and Sensex also closed flat at 56,582 and 78,520, respectively. Market breadth weakened significantly, with 168 advances against 330 declines, while VIX jumped 9.18% to 18.79, indicating rising uncertainty.

Sectoral Indices Performance

Media led with 0.9%, PSU Bank added 0.87%, Energy climbed 0.78% on crude’s 6.25% surge, and Auto ticked up 0.33%. IT fell 0.7%, Realty dropped 0.62%, Metals shed 0.39%. Seven of twelve sectors closed green, but index gains masked weak internals.

Winners & Losers

The midcap index fell 0.23% to 13,807. Broader market breadth was dismal, 168 stocks up, 330 down, a stark reversal from the past few sessions when advances dominated. Large-caps held the line; everything else struggled.

Momentum Screener

Global Markets

Commodities

Crude rebounded 6.25% to ₹8,145 after Friday’s fall, two violent moves in two sessions. Gold slipped 0.68% to ₹1,53,550. Silver tumbled 2.06% to ₹2,51,857. Oil’s rally is back to squeezing everything else.

Bond Yields & Currency

India 10Y yield at 6.898%. US 10Y yield held at 4.26%. Rupee weakened slightly to 93.08 per dollar, up 0.11%. Bond markets calm despite crude volatility.

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 21st April:

The maximum Call Open Interest (OI) is observed at 24,500, followed by 24,800, indicating potential resistance at the 24,500 -24,600 levels.
The maximum Put Open Interest (OI) is observed at 24,000, followed by 24,300 & 24,200, suggesting support at 24,200-24,100.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull