Daijiworld Media Network - Mumbai

Mumbai, Apr 20: Indian equity markets closed Tuesday’s trading session on a largely flat note, as early gains faded amid rising geopolitical tensions in West Asia that unsettled investor confidence.

Benchmark indices showed minimal movement, with the Nifty rising just 11.30 points, or 0.05%, to close at 24,364.85. The BSE Sensex also ended marginally higher, adding 27 points, or 0.03%, to settle at 78,520.30.

Market participants noted that while both indices remained in positive territory for most of the day, momentum weakened in the final hour as global uncertainty weighed on risk appetite. Concerns around the escalating US–Iran situation, including developments in the Gulf region, contributed to volatility.

Analysts said the 24,400–24,500 zone on the Nifty remains a key resistance area. A decisive breakout above this range could potentially open the path toward 24,850 and eventually the psychological 25,000 mark. On the downside, immediate support is seen near 24,200, with stronger demand expected in the 24,100–24,000 range.

Volatility also picked up sharply during the session, with the India VIX rising 10.5% to 19.01, reflecting heightened market uncertainty.

Among individual stocks, Jio Financial Services, Hindalco Industries, and Tata Motors were among the top laggards, weighing on overall sentiment. Sectorally, PSU banking and media stocks managed to outperform, while IT and realty counters faced selling pressure.

The cautious tone in domestic markets was largely influenced by renewed geopolitical concerns following reports of heightened activity in the Gulf of Oman and the Strait of Hormuz—key routes for global oil trade. Recent developments, including the seizure of a vessel in the region, have raised fears of potential supply disruptions and added to global uncertainty.

Analysts added that despite strong domestic fundamentals, external geopolitical risks continue to dictate short-term market direction, keeping investors on edge and limiting upside momentum.