Indian Markets Pre Market Report Today (Apr 23, 2026): Weak Start Signals, Oil Above $100, and Nifty 24,200 in Focus

Indian Markets Pre Market Report Today: Opening Summary

Indian Markets Pre Market Report Today: Indian markets are set for a cautious to weak opening on Thursday, Apr 23, 2026.
Early signals from GIFT Nifty were soft, with the contract seen around 24,204.50 at 7:31 AM IST, while another early market feed had it near 24,315, which still pointed to a negative-to-muted start rather than a strong gap-up open.
The market is entering the session after Wednesday’s sharp pullback, when IT selling, high crude prices, and Iran-US uncertainty pushed benchmarks lower.
The biggest trigger for today remains the same: oil, geopolitics, and whether Nifty can hold the 24,200 zone.

What Happened In The Last Session

Indian Markets yesterday closed in weak
Nifty 50: 24,378.10, down 198.50 points or 0.81%
Sensex: 78,516.49, down 756.84 points or 0.95%
Bank Nifty: 57,124.45, down 247 points or 0.43%
The major drag came from IT stocks, especially after HCLTech gave a weak growth outlook.
HCLTech fell 10.8%, while Infosys dropped 3.4% and TCS slipped 2.8%.
Even in a weak session, 9 of 16 major sectors rose, and smallcaps and midcaps still outperformed, showing that weakness was concentrated rather than completely broad-based.

Global Cues

US Market Previous Session Close

Dow Jones: 49,490.03, up 340.65 points or 0.69%
S&P 500: 7,137.90, up 73.89 points or 1.05%
Nasdaq Composite: 24,657.57, up 397.60 points or 1.64%
Main reason:
- strong earnings supported risk appetite
- S&P 500 and Nasdaq closed at record highs
- investors looked through the Iran ceasefire uncertainty for now, even with oil staying elevated.

Europe Previous Session Close

STOXX 600: 613.88, down 0.4%
FTSE 100: 10,476.46, down about 0.2%
DAX: 24,194.90, down about 0.3%
CAC 40: 8,156.43, down about 1.0%
Main reason:
- Europe stayed under pressure because the Iran-US truce still looked fragile
- higher oil prices and slower growth fears kept sentiment weak.

Asian Markets Morning Update

Nikkei 225: around 59,848.14, higher in morning trade
KOSPI: around 6,513.94, strong and near record territory
Hang Seng: around 26,163.24, lower in morning trade
Shanghai / SSE Composite: around 4,106.26, mildly positive
Reuters said Asian equities broadly tracked Wall Street higher, led by Japan, South Korea, and Taiwan, but the oil spike is still a visible market risk.

Latest GIFT Nifty update for Thursday, Apr 23, 2026:

GIFT Nifty was quoted at 24,204.50, down 163 points (-0.67%) at 07:31 AM IST, signaling a negative start for the Indian market.

Iran-US War Developments

The Iran-US conflict remains the most important global macro theme for Indian markets.
President Trump has extended the ceasefire indefinitely, but the market still does not have a full peace resolution.
Iran seized two ships in the Strait of Hormuz on Wednesday.
The U.S. naval blockade remains in place.
Reuters also reported that the Strait is still effectively shut or heavily disrupted, and this matters because it normally handles about 20% of global oil and LNG flows.
For Indian markets, that means:
- higher crude risk
- pressure on inflation
- rupee weakness risk
- possible pressure on foreign flows if the disruption lasts.

Indian Markets Pre Market Report Today: Nifty 50, Bank Nifty and Sensex Key Levels

Nifty 50 Key Levels

Spot close: 24,378.10
Immediate support zone: 24,270–24,200
Major downside support: 24,100–23,900
Immediate hurdle: 24,500–24,600
Higher resistance zone: 24,800
Pivot resistance levels: 24,478, 24,516, 24,579
Pivot support levels: 24,353, 24,315, 24,253
Technical reading:
- the near-term trend has turned subdued
- broader structure is still not fully broken
- 24,200 is the key level for today’s trade.

Bank Nifty Key Levels

Spot close: 57,124
Pivot resistance levels: 57,355, 57,458, 57,624
Pivot support levels: 57,022, 56,919, 56,752
Fibonacci support levels: 55,676 and 54,576
Fibonacci resistance levels: 59,169 and 61,683
Technical reading:
- Bank Nifty formed a small bearish candle
- selling pressure was visible at higher levels
- but the index still stayed above the 100-day and 200-day EMAs, which keeps the broader banking structure relatively stronger than the headline market mood.

Sensex Key Levels

Spot close: 78,516.49
Practical trading view for today:
- 78,300–78,000 becomes the immediate downside watch zone
- 78,800–79,000 is the first recovery band
This is a practical market map inferred from Wednesday’s close, the Nifty support-resistance structure, and the broader risk-off setup after IT-led selling.

Open Interest, Put-Call Ratio and VIX

Nifty Options Setup

Maximum Call OI: 25,000 strike with 99.89 lakh contracts
Next heavy Call OI: 24,500 strike with 77.95 lakh contracts
Maximum Put OI: 24,000 strike with 77.53 lakh contracts
Next heavy Put OI: 24,400 strike with 50.71 lakh contracts
Reading:
- 24,000 remains the stronger positional support
- 25,000 remains the major positional ceiling.

Bank Nifty Options Setup

Maximum Call OI: 58,000 strike with 7.06 lakh contracts
Maximum Put OI: 57,000 strike with 7.61 lakh contracts
Reading:
- 57,000 remains the key pivot support
- 58,000 is the immediate big resistance zone.

PCR and VIX

Nifty PCR: 1.02, down from 1.18
India VIX: 18.3, up 4.38%
Reading:
- sentiment is still not fully broken, because PCR remains above 1
- but the rise in VIX shows bulls are less comfortable than they were a day earlier.

F&O Ban

Added to ban: Nil
Retained in ban: SAIL
Removed from ban: Nil.

Indian Markets Pre Market Report Today: FII and DII Data

FII cash market: net sell of ₹2,078.40 crore on Apr 22
DII cash market: net sell of ₹1,048.20 crore on Apr 22
This is important because Wednesday’s fall did not get the usual domestic institutional cushion seen on some recent sessions.

Commodity and Currency Update

Crude Oil Update

Brent crude: around $103.0 per barrel in early Thursday trade after Wednesday’s close above $100
WTI crude: around $94.30 per barrel
Crude is still the biggest macro risk for Indian equities.

Gold and Silver Update

Spot gold: rose to $4,737.69 on Wednesday’s global session
MCX gold: around ₹1,52,790 per 10 gm in early Apr 23 trade
MCX silver: around ₹2,48,690 per kg in early Apr 23 trade
Gold remains supported by global uncertainty, while silver is seeing sharper volatility.

Currency Morning Update

Rupee previous close: 93.7950 per U.S. dollar
The rupee has now fallen for three consecutive sessions.
Reuters also noted that the dollar index was near 98.64 on Thursday morning, which adds to pressure on oil-sensitive currencies including the rupee.
Market reading:
- if oil stays above $100, the rupee remains vulnerable.

New SEBI Rules and Their Impact

SEBI has temporarily allowed issuers to cut IPO size by up to 50% without refiling, versus the earlier 20% threshold.
The relief is available for issuers planning offers up to September 30, 2026.
SEBI has also extended the validity of some IPO approvals and relaxed certain public float compliance timelines because of war-related volatility.
Market impact:positive for the IPO pipeline
- helps companies avoid full refiling in unstable conditions
- supports fundraising flexibility, though it does not automatically guarantee strong listing sentiment.

Indian Markets Pre Market Report Today: New and Existing IPO Updates

Open / opening IPOs today:
- Adisoft Technologies Ltd — SME, issue price ₹172, issue size ₹74.10 crore, open 23 Apr to 27 Apr
- Leapfrog Engineering Services Ltd — SME, issue price ₹23, issue size ₹88.51 crore, open 23 Apr to 27 Apr
Recently closed / existing IPO watchlist:
- Citius TransNet Investment Trust — closed, allotment on 22 Apr
- Mehul Telecom — closed, allotment on 22 Apr
A bigger structural market story is also building around the NSE IPO, after a SEBI-appointed panel recommended a settlement path that could move the exchange closer to filing later this year.

Two Major Growth Stocks With Q4 Strength

1) HDFC Bank

Standalone Q4 net profit: ₹192.2 billion
Advances growth: 12%
Deposits growth: 14.4%
Net interest income growth: 3.2%
NIM: 3.38%
Gross NPA: 1.15%
Technical and outlook view:
- fundamentals were solid
- margins were still softer than the pre-merger zone
- the stock remains a relative strength candidate in financials, but a stronger rerating may need visible NIM improvement.

2) ICICI Bank

Q4 net profit: ₹137.02 billion
Loan growth: 15.8%
Deposit growth: 11.4%
Net interest income growth: 8.4%
NIM: 4.32%
Provisions fell sharply, which supported earnings.
Technical and outlook view:
- ICICI Bank remains one of the cleaner large-cap banking setups
- steady margins, lower stress costs, and strong loan growth keep the near-term outlook constructive relative to the broader market.

Short-Term and Long-Term Investment View

Short-Term View

Short-term traders should stay selective.
Better strategy for now:
- avoid blind dip-buying in weak IT names
- focus on strong banking setups if indices stabilize
- watch crude and GIFT Nifty direction before aggressive positions
Nifty holding 24,200 is the first real sentiment check for the day.

Indian Markets Pre Market Report Today’s Long-Term View

Long-term investors may still prefer:
- quality private banks
- selective domestic consumption names
- phased entry rather than aggressive lump-sum buying
The reason is simple:
- banking earnings are still healthier than many other large-cap segments
- oil and geopolitics can still create short-term market shocks.

Indian Markets Pre Market Report Today: 5-Point Market Forecast

Opening bias: weak to cautious, because GIFT Nifty signaled a softer start.

Key level for bulls: Nifty must protect 24,200 to avoid a slide toward 24,100–23,900.

Key level for recovery: Nifty needs to reclaim 24,500–24,600 for sentiment to improve meaningfully.

Leadership pocket: Bank Nifty is still structurally better than the headline index and may again decide whether the market stabilizes.

Biggest macro risk: crude oil and Iran-US headlines remain more important than routine domestic cues today.

Disclaimer

This Indian Markets Pre Market Report Today is for educational and informational purposes only. It is not investment advice, not a stock recommendation, and not a solicitation to buy or sell any security. Please consult a SEBI-registered investment advisor before making any investment decision.