Overview
- Indian stocks reversed early losses on Monday, with the Sensex closing up 787 points at 74,106 and the Nifty finishing at 22,968 after a late-session surge.
- The rebound followed reports of a proposed US–Iran ceasefire plan and a small pullback in crude, with Brent slipping toward about $108–109 as banks and midcaps led gains.
- The risk picture remains tough as oil stays above $100, President Trump presses a Strait of Hormuz deadline that threatens a key oil route, and foreign funds keep selling after a record March outflow of about ₹1.22 lakh crore.
- Traders are focused on the RBI Monetary Policy Committee meeting from April 6–8 for signals on rates and inflation, with commentary expected to shape near‑term moves.
- Technical trackers flag Nifty support near 22,500 and resistance around 22,900–23,000, and several brokers say a durable break above this zone is needed to shake the recent sell‑on‑rise bias.