According to GIFT NIFTY futures, the Indian market benchmarks are expected to open with a gap down on Thursday, April 23. Weak signals from Asian markets caused NIFTY futures at GIFT City in Ahmedabad to fall 243 points, or 1%, to 24,138.
The benchmarks ended their three-day winning streak on Wednesday as investor mood soured due to the United States and Iran’s failure to move forward with peace negotiations and the continued closure of the Strait of Hormuz, which caused crude oil prices to soar.
The NIFTY50 index fell 198 points to settle at 24,378, while the SENSEX finished 757 points lower at 78,516.
Prior to the market opening, be aware of the following:
Asian markets
Asian markets were trading lower on Wednesday as tensions in the Strait of Hormuz grew as Iran attacked three ships close to the vital waterway, whose closure has caused a global energy crisis after tankers carrying a fifth of the world’s oil were prevented from using the channel, according to news agency AP.
The Nikkei in Japan dropped 1%, the Shanghai Composite in China down 0.33%, the Hang Seng in Hong Kong sank 1%, and the KOSPI in South Korea increased 0.2%.
An update on Wall Street
Due to stronger-than-expected quarterly profits from GE Vernova, Boston Scientific, and other major corporations, US stocks ended the day at record highs on Wednesday.
The tech-heavy Nasdaq increased 1.64%, the Dow Jones Industrial Average increased 0.69%, and the S&P 500 index increased 1.05%.
Activity of FII/DII
According to NSE statistics, domestic institutional investors sold equities worth ₹1,048.17 crore on Wednesday, while foreign institutional investors sold shares worth ₹2,078.36 crore.
2025–2026 fiscal year (Q4 FY26).
According to a regulatory filing, it reported a 32.57% year-over-year (YoY) increase in its consolidated net profit to ₹413.1 crore in Q4 FY26 from ₹311.6 crore in the same period last year.
During the reviewed quarter, the company’s revenue from operations was ₹5,027.99 crore, up 19.23% year over year from ₹4,216.94 crore in the March quarter of the 2024–25 fiscal year (Q4 FY25).
According to the corporation, its board has approved a 1:2 bonus issue, which means that for every two shares held, shareholders would receive one more share.
A dividend of ₹6 per share for FY26 has also been announced by the board.
SBI Life Insurance: Due to declining income from investment operations on a year-over-year (YoY) basis during the same period, the state-run insurance business reported a 1% decline in its net profit for the fourth quarter of FY26.
According to NSE filings, SBI Life Insurance’s net premium income (NPI) increased 16% to ₹27,683.79 crore in Q4 FY26, up from ₹23,860.71 crore in the same period the previous year.
Tata Power: EZ Home Solutions, which offers user-friendly smart home technologies, was introduced here on Wednesday.
According to a statement, EZ Home offers app-based control over lighting, climate, security, and energy management, improving comfort, safety, and operational efficiency while promoting sustainable living.
Smart outlets, touch panel switches, retrofittable converters, and motion sensors are all part of the Tata Power EZ Home portfolio, which integrates into current electrical setups without requiring significant changes, making the solutions appropriate for both newly built homes and existing residences, according to the statement.
EZ Home improves appliance safety during voltage swings and power surges with integrated overload prevention and clever automation capabilities. According to the report, automated scheduling minimises needless electricity use by ensuring that appliances like air conditioners, refrigerators, fans, and washing machines only run when essential.
In order to serve the quickly growing Indian insurance market, Jio Financial Services, a firm owned by Reliance Industries, and Germany’s Allianz Group signed a legally binding agreement on Wednesday to establish a 50:50 primary insurance joint venture that would provide both general and health insurance.
The legally binding agreement formalises a cooperation that was initially announced in July 2025, shortly after Allianz Group ended its collaboration with Bajaj Finserv.
According to a joint statement, this cooperation will bring together two reputable financial services companies that are known for their dedication to customer-centricity in order to provide creative and easily accessible protection solutions that are specifically designed to meet the needs of Indian individuals and enterprises.
L&T Technology Services (LTTS): The IT company announced on Wednesday that its consolidated net profit for the January–March quarter of FY26 increased by 6.75% year over year to ₹332 crore.
In the March quarter of FY25, the company reported a net profit of ₹311 crore.
According to a regulatory filing, the company’s operating revenue increased 8.3% to ₹2,857.9 crore in Q4 FY26 from ₹2,637.8 crore in the same period last year.
Profit and revenue increased by 9.7% and 2.5%, respectively, on a quarterly basis.
LTTS reported a net profit of ₹1,279.2 crore for the entire fiscal year that concluded on March 31, 2026. This represents a slight increase of 0.98% from ₹1,266.7 crore in FY25.
In FY26, operating revenue increased by 14% to ₹10,995.9 crore.
Supriya Lifescience: The USFDA has issued an Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) classification for its Lote facility in the state, the maker of active pharmaceutical ingredients (API) said on Wednesday.
According to a statement from the company, the inspection, which took place between February 2 and 6, 2026, resulted in the issuing of a Form 483 with one minor observation.
Supriya Lifescience can continue to supply APIs to regulated markets like the US, Europe, and Japan thanks to the VAI categorisation.
Bandhan Bank: The private sector lender announced on Wednesday that Debasish Panda has been appointed as the firm’s part-time chairman for a three-year term with prior clearance from the Reserve Bank of India.
The private sector lender stated in a regulatory filing that the RBI granted its approval in a letter dated April 22. The tenure will take effect on the day Panda takes over, provided that the regulator’s requirements are met.
According to the bank, the Nomination and Remuneration Committee (NRC) and the board would review and approve the proposal for Panda’s appointment in due course.
Tata Communications: The business reported a 74.6% decrease in consolidated net profit to ₹263.25 crore for the January-March quarter on Wednesday. This was mostly because of a high base effect brought on by large one-time gains in the prior year.
With the help of a one-time profit from the sale of a Chennai land parcel to an associate company and the sale of the entire interest in Tata Communications Payments Solutions, it posted a profit (attributable to equity investors of the parent company) of ₹1,040.34 crore in the same period last year.
From ₹5,990.35 crore in Q4 FY25 to ₹6,554.15 crore in Q4 FY26, the company’s operating income increased by 9.4%.
Sequentially, the company’s operating income increased by 5.9% while its profit decreased by 27.9%.
Unimech Aerospace and Manufacturing: The business has finalised arrangements to purchase Hobel Bellows, a specialised Indian producer of precision-engineered assemblies, flexible tubing components, and metallic bellows. The proposed acquisition is a significant step toward Unimech’s goal of developing a capability-led, internationally competitive precision engineering platform and increasing its relevance in high-value industrial sectors.
Adani Green Energy: A 292 MW solar power facility in Khavda, Gujarat, has been operationalised by Adani Green Energy Twenty Six A Limited (“AGE26AL”), a wholly-owned stepdown subsidiary of Adani Green Energy Limited (“AGEL”).
With the completion of these projects, AGEL now has a total operational BESS capacity of 1,376 MWh and a total operational renewable generation capacity of 19,585.8 MW.
Bharat Electronics: For the current fiscal year 2026–2027, the defence PSU has started acquiring orders of ₹569 crore.
Avionics, EW systems, high-energy lasers, communication equipment, tank subsystems, laser-based fuzes, test equipment, upgrades, spares, services, etc. are among the major orders that have been received.
Trade configuration
Despite a turbulent trading session, the daily charts show a widespread consolidation in the NIFTY50. For six trading sessions, the index remained in the 24,200–24,600 area, indicating time consolidation in the index. However, if the index falls below the 50 EMA level of 24,224, it may enter into corrective mode. Conversely, 24,800 continues to be long-term protection on the upside while 24,500 continues to be short-term resistance.
With the largest open interest on the call side, the most recent open interest data for the upcoming monthly expiry points to 24,500 as a critical resistance level. In a similar vein, Wednesday saw significant open interest addition to 24,400 and 24,500 call strikes, suggesting limited upside above current levels. However, 24,000 puts have the most open interest, suggesting that the upcoming weekly expiry will be supported in the near future.
