Indian stocks are likely to open flat, but with a downward bias, amid geopolitical headwinds. Gift Nifty also points to a flat start.
Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Indian markets are likely to open on a muted note, with early indications pointing to a flat start. “The broader sentiment remains fragile, shaped largely by persistent geopolitical uncertainty. Global markets reflected this caution in the previous session. While the S&P 500 touched an intraday record high, it failed to hold gains and ended lower, with selling pressure particularly visible in technology stocks. The pullback signals that investors are becoming increasingly reluctant to chase valuations at elevated levels amid unresolved geopolitical risks,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Developments in West Asia continue to influence market psychology, he said, adding that although the ceasefire between Israel and Lebanon has been extended by three weeks following diplomatic engagement led by Donald Trump, the extension is being viewed as a temporary relief rather than a structural resolution.
West Asia tensions continue to weigh on sentiment
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth tech firm, said Indian equity markets are likely to open on a cautious note, as persistent geopolitical uncertainties continue to weigh on sentiment. The lack of meaningful progress in U.S.–Iran negotiations remains a key overhang, keeping investor confidence subdued.
“Crude oil prices remain elevated above the $100 per barrel mark, driven by supply disruptions and rising tensions around the Strait of Hormuz, adding to macroeconomic concerns. Global markets are trading on a mixed to negative footing, with Asian equities under pressure due to the surge in oil prices and heightened geopolitical risks,” he added.
Foreign institutional investors remain cautious, with continued outflows observed in recent periods, reflecting concerns about valuations, elevated crude prices, and currency depreciation, he added. Weakness in IT and financials has weighed on broader indices, while relatively defensive sectors such as FMCG and pharma have shown resilience. Overall, market sentiment remains fragile and highly news-driven, with near-term direction likely to be influenced by geopolitical developments and movements in crude oil prices,” he cautioned.
Derivatives signal range-bound trade ahead
Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities, said: from a derivatives perspective, PCR stands near 0.89, indicating a slightly cautious undertone. “Option data suggests call writing clustered around 56,500–57,000, capping the upside, while put writing near 56,000–56,500 is providing immediate support, reinforcing a defined trading range,” he said.
Overall, the index is consolidating within a range after a sharp recovery, and as long as it sustains within the key support and resistance levels, a range trading strategy remains favourable, while a decisive move above 57,200 is required to revive strong bullish momentum.
Published on April 24, 2026