Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a positive note on April 20, tracking positive cues from GIFT Nifty, which is trading higher at around 24,461. Indian benchmark indices recouped the previous session’s losses and ended higher on April 17 with Nifty above 24,300, supported by positive geopolitical developments.
At close, the Sensex was up 504.86 points or 0.65 percent at 78,493.54, and the Nifty was up 156.80 points or 0.65 percent at 24,353.55. Asian markets were trading higher in early Monday trade amid developments in the Middle East and renewed tensions between Iran and the US.
Oil prices rebounded more than 6% on Monday after tumbling more than 9% on Friday due to the closure of the Strait of Hormuz. Foreign Institutional Investors (FIIs) extended their buying streak for the third consecutive session on April 17, purchasing equities worth ₹683 crore, while Domestic Institutional Investors (DIIs) remained net sellers for the third straight day, offloading equities worth over ₹4,721 crore.
