Snapping three-day gaining streak, Indian equity benchmark -- Nifty -- ended lower with cut of near a percent on Wednesday amid escalating geopolitical tensions in West Asia, rising brent crude oil prices and profit taking at higher levels. Index made a gap-down start as geopolitical concerns resurfaced after U.S.-Iran peace talks stalled, and U.S. President Donald Trump announced a unilateral extension of the ceasefire amid renewed conflict in the Strait of Hormuz. Index remained lacklustre till the end of the day. Sentiments were downbeat with persistent foreign fund outflow. As per exchange data, foreign institutional investors offloaded equities worth Rs 1,918.99 crore on April 21, 2026. Besides, traders remained concerned after research firm BMI, part of Fitch Solutions, in its report stated that India's fiscal deficit is likely to breach the budgeted target for current fiscal and hit 4.5% of GDP as the government's policy response to the West Asia conflict could strain public finances.

Traders were seen piling up positions in Chemicals, FMCG and Media stocks, while selling was witnessed in IT, Private Bank and Auto. The top gainers from the F&O segment were Indian Renewable Energy Development Agency, Adani Energy Solutions and Exide Industries. On the other hand, the top losers were HCL Technologies, Tata Elxsi and Persistent Systems. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 4.37% and reached 18.30. The 50 share Nifty down by 198.50 point or 0.81% to settle at 24,378.10.

Nifty April 2026 futures closed at 24385.00 (LTP) on Wednesday, at a premium of 6.90 points over spot closing of 24378.10, while Nifty May 2026 futures ended at 24513.90 (LTP), at a premium of 135.80 points over spot closing. Nifty April futures saw an addition of 1,019 units, taking the total open interest (Contracts) to 2,53,173 units. The near month derivatives contract will expire on April 28, 2026. (Provisional)

From the most active contracts, HCL Technologies April 2026 futures traded at a discount of 21.40 points at 1265.00 (LTP) compared with spot closing of 1286.40. The numbers of contracts traded were 79,406. (Provisional)

HDFC Bank April 2026 futures traded at a premium of 0.60 points at 800.00 (LTP) compared with spot closing of 799.40. The numbers of contracts traded were 60,480. (Provisional)

Infosys April 2026 futures traded at a premium of 3.30 points at 1272.10 (LTP) compared with spot closing of 1268.80. The numbers of contracts traded were 49,277. (Provisional)

Tata Consultancy Services April 2026 futures traded at a discount of 5.30 points at 2530.00 (LTP) compared with spot closing of 2535.30. The numbers of contracts traded were 34,307. (Provisional)

Tech Mahindra April 2026 futures traded at a premium of 6.70 points at 1470.00 (LTP) compared with spot closing of 1463.30. The numbers of contracts traded were 28,314. (Provisional)

Among, Nifty calls, 24400 SP from the April month expiry was the most active call with an addition of 54,699 units open interests. Among Nifty puts, 24400 SP from the April month expiry was the most active put with an addition of 33,555 units open interests. The maximum OI outstanding for Calls was at 26000 SP (1,96,759 units) and that for Puts was at 24000 SP (1,24,223 units). The respective Support and Resistance levels of Nifty are: Resistance 24478.40 -- Pivot Point 24415.65 -- Support 24315.35.

The Nifty Put Call Ratio (PCR) finally stood at (0.96) for April month contract. The top five scrips with highest PCR on GAIL (India) (1.56), Hitachi Energy India (1.36), Tata Consumer Products (1.29), Asian Paints (1.22), and Angel One (1.16).

Among most active underlying HCL Technologies witnessed an addition of 7,781 units of Open Interest in the April month futures, HDFC Bank witnessed an addition of 16,946 units of Open Interest in the April month future, Infosys witnessed a contraction of 2,048 units of Open Interest in the April month future, Tech Mahindra witnessed an addition of 2,924 units of Open Interest in the April month futures and ICICI Bank witnessed an addition of 8,902 units of Open Interest in the April month futures. (Provisional).