In April 2026, the Nifty 50 rebounded 7.46% (1,666 points), while the Bank Nifty gained 9.13% (4,588 points), recovering after witnessing the steepest monthly decline since the Covid-era selloff in March 2026. The indices bounced from the crucial 22,200 support zone, though the 50-day EMA continued to act as resistance, with the Nifty closing below it despite crossing it during the third week. The RBI kept the repo rate unchanged at 5.25%, while India’s GST collections hit a record ₹2,42,702 crore in April, up 8.7% year-on-year. Market sentiment improved after a two-week US-Iran ceasefire triggered a sharp fall in crude oil prices, though Brent crude later recovered from $86 to end near $110, up 7% for the month. Sectorally, Defence (+24.38%), Capital Markets (+23.2%), and Realty (+21.87%) led gains. FIIs sold ₹70,135 crore, while DIIs bought ₹51,064 crore.
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