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Nifty snaps three-day gaining streak; ends below 24,400 mark

22 Apr 2026 Evaluate

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.

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