US-Iran war: US President Donald Trump on Sunday made expletive-filled threats against Iran and its infrastructure if it doesn't open the Strait of Hormuz by his Tuesday deadline.(Photo: Courtesy AI)Stock market today, 6 April 2026: The Indian stock market witnessed high volatility during the shortened week (Mar 30–Apr 2), impacted by geopolitical tensions, rising crude oil prices, a weakening rupee, and continued FII outflows. The market ended FY26 on a weak note, with the Sensex falling 1,635 points (2.22%) and the Nifty dropping 2.14%, led by broad-based selling across sectors.
The new fiscal year (FY27) began on a strong rebound, supported by global cues and hopes of de-escalation in the US-Iran war, with the Sensex gaining 1.65% and the Nifty rising 1.56%, led by banking, IT, and auto stocks. However, gains were partially reversed on April 2 as uncertainty resurfaced following US remarks on the conflict, dragging indices lower again. Overall, the week highlighted fragile sentiment, with geopolitical and oil-related risks continuing to dominate market direction despite intermittent recovery.
The Gift Nifty has opened downward, losing over 75 points during the early morning session on Monday. According to experts, Gift Nifty's gap-down opening reflects a weak opening for the Indian stock market today.
In the Asian markets today, the Japanese Nikkei is up by more than 1%. However, the Chinese Shanghai Stock Exchange (SSE) is closed for the Qingming Festival, Taiwan's TWSE will remain closed for Children's/Tomb-sweeping Day, whereas Hong Kong's Hang Seng will be closed today for Easter.
Expecting a gap-down opening on Dalal Street today, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said, “Indian markets are expected to open on a muted note, with Gift Nifty pointing towards a flat start around the 22690–22700 zone. After a brief three-day pause, markets return to full trading with sentiment still anchored to global developments, particularly evolving tensions in the Middle East.”
US President Donald Trump on Sunday made expletive-filled threats against Iran and its infrastructure if it doesn't open the Strait of Hormuz by his Tuesday deadline, after American forces rescued a wounded aviator whose Iran-downed plane fell behind enemy lines.
So, the ongoing geopolitical tension in West Asia may continue to act as a major overhang, and the latest developments have added fresh uncertainty after Donald Trump signalled possible strikes on key Iranian infrastructure, including power plants and bridges. At the same time, rising risk around the Strait of Hormuz is creating a direct concern for global energy supply, pushing crude oil prices higher and keeping markets on edge.
Following a rise in WTI crude oil prices today after US President Donald Trump threatened to reopen the Strait of Hormuz, gold and silver prices came under selling pressure during early morning dealings in Asian markets.
The COMEX gold rate today is down by around 0.50% and is oscillating around $4,655/oz, while the COMEX silver rate today is down by nearly one per cent and is oscillating around $72/oz.
Speaking on the outlook of the COMEX gold rate today, Anuj Gupta, a SEBI-registered market expert, said the gold price today is in the broader $62 to $78 per ounce range, while the MCX gold rate today is in ₹1,45,000 to ₹1,57,000 per 10 gm.
Following the escalation in the US-Iran war, the WTI crude oil today attracted strong buying in the early morning session and touched a new high of $115.37 per barrel. The WTI crude oil price is currently oscillating around $112/bbl.
FIIs continue to remain aggressive sellers, with persistent outflows reflecting global risk-off sentiment and capital reallocation. While domestic institutional investors are providing some cushion, their support is not strong enough to fully absorb external pressure, keeping markets in a fragile, reactive state.
Volatility remains a key concern. India VIX remains elevated above 25, indicating that fear and uncertainty have not fully subsided. Such levels tend to distort risk-reward dynamics, especially in derivatives, where higher premiums make aggressive positioning less favourable. In this environment, a more calibrated approach with reduced exposure appears prudent.
Speaking on the outlook of the Nifty 520 today, Ajit Mishra, SVP — Research at Religare Broking, said the Nifty 50 index continues to exhibit high volatility with sharp intraday swings, indicating indecisiveness at current levels.
"We expect the prevailing volatility to persist in the near term. Immediate resistance is in the 23,000–23,200 zone, with a key hurdle around 23,500, while support is at 22,300–22,000. Traders should remain cautious and adopt a hedged approach until clearer signs of stability emerge," the Religare expert said.
On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index witnessed strong buying from lower levels, forming a long green candlestick, indicating demand at lower zones. The index has bounced from near the 78.6% Fibonacci retracement level rather than a clean reclaim, suggesting a relief pullback.
"RSI shows signs of a bullish crossover from oversold levels, confirming positive divergence and supporting a short-term recovery outlook. However, the broader trend remains weak, hence a cautious stance is advised. On the upside, 52,500–53,000 may act as resistance, while immediate support is placed around 50,500 levels," said Vatsal Bhuva of LKP Securities.
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these seven buy-or-sell stocks for intraday trading: Seamec, Poly Medicure, Wipro, Tata Consumer Products, GAIL, Maruti Suzuki India Ltd (MSIL), and Cummins India.
1] Seamec: Buy at ₹1496, Target ₹1602, Stop Loss ₹1443; and
2] Poly Medicure: Buy at ₹1334, Target ₹1430, Stop Loss ₹1287.
3] Wipro: Buy at ₹194, Target 204, Stop Loss ₹185;
4] Tata Consumer Products: Buy at ₹1044, Target ₹1090, Stop Loss ₹1020; and
5] GAIL: Buy at ₹141, Target ₹149, Stop Loss ₹135.
6] MSIL: Buy at ₹12630, Target ₹13100, Stop Loss ₹12400; and
7] Cummins India: Buy at ₹4646, Target ₹4850, Stop Loss ₹4560.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
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While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
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Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
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Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).