Nifty extended its optimistic trade for the fifth consecutive session and ended near 24,000 mark on Wednesday amid ease in geopolitical tensions. Index made a gap-up start and maintained its gain throughout the session as US and Iran agreed to a two-week ceasefire. According to reports, Iran agreed to allow safe navigation through the Strait of Hormuz during the ceasefire. Further, lowering crude oil prices and rupee appreciation boosted market sentiments. Meanwhile, the RBI's Monetary Policy Committee decided to keep the benchmark policy repo rate unchanged at 5.25 per cent in the April monetary policy review, and retained its current policy neutral stance, amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict. 

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility decreased by 20.23% and reached 19.70. The 50 share Nifty up by 873.70 point or 3.78% to settle at 23,997.35.

Nifty April 2026 futures closed at 24087.10 (LTP) on Wednesday, at a premium of 89.75 points over spot closing of 23997.35, while Nifty May 2026 futures ended at 24218.00 (LTP), at a premium of 220.65 points over spot closing. Nifty April futures saw a contraction of 14,815 units, taking the total open interest (Contracts) to 3,16,938 units. The near month derivatives contract will expire on April 28, 2026. (Provisional)

From the most active contracts, HDFC Bank April 2026 futures traded at a premium of 1.45 points at 818.95 (LTP) compared with spot closing of 817.50. The numbers of contracts traded were 81,761. (Provisional)

Reliance Industries April 2026 futures traded at a premium of 3.40 points at 1352.80 (LTP) compared with spot closing of 1349.40. The numbers of contracts traded were 37,133. (Provisional)

Larsen & Toubro April 2026 futures traded at a premium of 8.90 points at 4018.90 (LTP) compared with spot closing of 4010.00. The numbers of contracts traded were 32,595. (Provisional)

InterGlobe Aviation April 2026 futures traded at a premium of 10.90 points at 4624.90 (LTP) compared with spot closing of 4614.00. The numbers of contracts traded were 30,452. (Provisional)

Infosys April 2026 futures traded at a discount of 3.20 points at 1343.70 (LTP) compared with spot closing of 1346.90. The numbers of contracts traded were 30,052. (Provisional)

Among, Nifty calls, 24000 SP from the April month expiry was the most active call with a contraction of 9,408 units open interests. Among Nifty puts, 23000 SP from the April month expiry was the most active put with a contraction of 3,957 units open interests. The maximum OI outstanding for Calls was at 24000 SP (64,705 units) and that for Puts was at 23000 SP (72,415 units). The respective Support and Resistance levels of Nifty are: Resistance 24072.17 -- Pivot Point 23950.33 -- Support 23875.52.

The Nifty Put Call Ratio (PCR) finally stood at (0.96) for April month contract. The top five scrips with highest PCR on SBI Life Insurance Company (1.77), Tata Consumer Products (1.55), Dalmia Bharat (1.41), Britannia Industries (1.32), and The Phoenix Mills (1.31).

Among most active underlying HDFC Bank witnessed an addition of 550 units of Open Interest in the April month futures, Reliance Industries witnessed an addition of 2,739 units of Open Interest in the April month future, Larsen & Toubro witnessed an addition of 5,693 units of Open Interest in the April month future, State Bank of India witnessed an addition of 3,443 units of Open Interest in the April month futures and ICICI Bank witnessed an addition of 1,804 units of Open Interest in the April month futures. (Provisional).