GIFT Nifty Trails Lower As Geopolitical Tensions Strain Fragile US-Iran Truce

Mumbai, April 9: GIFT Nifty is trading in a dull flat consolidation after an extremely volatile day yesterday, in its bid to digest its blistering rally yesterday, continuing to be weighed down by high geopolitical concerns over the ceasefire between the US and Iran following its scheduled 6-month window on the 12th of May, with risks that a further extension will become a difficult issue that may become the reality as the talks in Islamabad may face many stumbling blocks as yet another Hezbollah attack in Lebanon has just happened amidst lack of any further confirmation by both sides on any positive outcome from the scheduled peace talks. Additionally, going domestic, with RBI’s awaited policy review meeting scheduled for the end of the month, local market participants are likely to wait for any clarity on further monetary tightening and macroeconomic data commentary on Inflation before taking large positions. As on 9 Apr 2026, GIFT Nifty April 28 Month futures traded 23,921.50, down by 89.50 or 0.37% at 11:39 AM.

To recap on yesterday’s action, GIFT Nifty, as the opener of the day, got the ball rolling by gapping up over 750+ points in the early trading hours for the Nifty, after a 2-week truce between the United States and Iran, and reduced fears of a new conflict in the Strait of Hormuz. The Nifty jumped over 3%, making it a joy ride to the Sensex’s record gain of 2,946 points on its biggest single-day point jump, on a massive relief rally buying sentiment. While Wednesday showed the first day of heavy bargain hunting relief rally as heightened fears of a Strait of Hormuz conflict receded amid headlines that the US and Iran have reached a tenuous ceasefire at the same time as the United States was reported to have responded to an Islamic Revolutionary Guards Corps (IRGC) attack, Thursday’s data points to the fact that there’s not much juice in that good news any more.

On balance, due to the trivial move down on a weak market breadth and lack of strong bullish continuation higher following an intraday candlestick pattern of “Hanging Man” that is a weak counter-trend bullish continuation indicator after an up move on high volume. As such, in the short-term we are likely to see more choppy trading until any breakthrough happens in the upcoming Islamabad talks.

The BSE Sensex opened on a mild negative note and traded at the subdued range of 77,372 – 77,424 in a flat range on 9 Apr 2026. Indian equity benchmarks opened on a muted note on Thursday in contrast to the previous day’s euphoria — as fresh concerns over the ceasefire in Iran’s conflict with the US soured sentiment and triggered partial profit-booking in the market. The BSE Sensex was down 184 points or 0.24% at 77,378 at 9.28 am, while the NSE Nifty 50 fell 13 points or 0.06% to 23,983 at 9.30 am

Source:

https://www.nseindia.com/market-data/live-market-indices