Indian equity benchmark -- Nifty ended lower with cut of over a percent on Friday amid West Asia Jitters. Index made a cautious start following mixed cues from other Asian markets, as intensified geopolitical tension in West Asia (US-Iran conflict) leading to a spike in crude oil prices. Soon, index extended its losses on account of hectic selling in IT and Teck stocks. Besides, foreign fund outflow dampened investors sentiments. As per exchange data, foreign institutional investors sold equities worth Rs 3,254.71 crore on April 23, 2026. In second half of the session, index continued its lacklustre trade in southward direction till the end of the session. Sentiments were downbeat with Engineering Export Promotion Council India’s (EEPC India) latest data showing that India’s engineering exports to the UAE (the second-largest market) and Saudi Arabia (the fourth-largest market) fell sharply in March 2026 as ongoing West Asia conflict has severely disrupted global shipping, particularly through the Strait of Hormuz. Finally, Nifty ended below 23,900 mark.

India Volatility Index (VIX), a gauge for market’s short-term expectation of volatility increased by 6.03% and reached 19.71. The 50 share Nifty down by 275.10 point or 1.14% to settle at 23,897.95.

Nifty April 2026 futures closed at 23935.00 (LTP) on Friday, at a premium of 37.05 points over spot closing of 23897.95, while Nifty May 2026 futures ended at 24034.70 (LTP), at a premium of 136.75 points over spot closing. Nifty April futures saw an addition of 3,453 units, taking the total open interest (Contracts) to 2,25,629 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 discount of 0.80 points at 784.35 (LTP) compared with spot closing of 785.15. The numbers of contracts traded were 135,769. (Provisional)

Infosys April 2026 futures traded at a premium of 3.20 points at 1158.00 (LTP) compared with spot closing of 1154.80. The numbers of contracts traded were 121,112. (Provisional)

Tata Consultancy Services April 2026 futures traded at a premium of 0.90 points at 2401.90 (LTP) compared with spot closing of 2401.00. The numbers of contracts traded were 85,809. (Provisional)

HCL Technologies April 2026 futures traded at a premium of 0.30 points at 1202.80 (LTP) compared with spot closing of 1202.50. The numbers of contracts traded were 52,271. (Provisional)

Reliance Industries April 2026 futures traded at a premium of 0.40 points at 1331.40 (LTP) compared with spot closing of 1331.00. The numbers of contracts traded were 42,839. (Provisional)

Among, Nifty calls, 24000 SP from the April month expiry was the most active call with an addition of 81,283 units open interests. Among Nifty puts, 23900 SP from the April month expiry was the most active put with an addition of 38,101 units open interests. The maximum OI outstanding for Calls was at 25000 SP (2,36,749 units) and that for Puts was at 23000 SP (1,66,479 units). The respective Support and Resistance levels of Nifty are: Resistance 24135.65 -- Pivot Point 23974.65 -- Support 23743.30.

The Nifty Put Call Ratio (PCR) finally stood at (0.67) for April month contract. The top five scrips with highest PCR on GAIL (India) (1.45), Tata Consumer Products (1.33), Hitachi Energy India (1.27), Torrent Power (1.20), and Cipla (1.18).

Among most active underlying HDFC Bank witnessed an addition of 3,049 units of Open Interest in the April month futures, Infosys witnessed a contraction of 18,691 units of Open Interest in the April month future, Tata Consultancy Services witnessed a contraction of 21,096 units of Open Interest in the April month future, ICICI Bank witnessed an addition of 349 units of Open Interest in the April month futures and Reliance Industries witnessed an addition of 6,368 units of Open Interest in the April month futures. (Provisional).