Stock market today: Gift Nifty down; US-Iran war, oil, gold, silver rates — seven stocks to buy or sell on 6 April 2026

Stock market today, 6 April 2026: The Indian stock market witnessed high volatility during the shortened week (Mar 30–Apr 2), impacted by geopolitical tensions, rising crude oil prices, a weakening rupee, and continued FII outflows. The market ended FY26 on a weak note, with the Sensex falling 1,635 points (2.22%) and the Nifty dropping 2.14%, led by broad-based selling across sectors.

The new fiscal year (FY27) began on a strong rebound, supported by global cues and hopes of de-escalation in the US-Iran war, with the Sensex gaining 1.65% and the Nifty rising 1.56%, led by banking, IT, and auto stocks. However, gains were partially reversed on April 2 as uncertainty resurfaced following US remarks on the conflict, dragging indices lower again. Overall, the week highlighted fragile sentiment, with geopolitical and oil-related risks continuing to dominate market direction despite intermittent recovery.

In the Asian markets today, the Japanese Nikkei is up by more than 1%. However, the Chinese Shanghai Stock Exchange (SSE) is closed for the Qingming Festival, Taiwan’s TWSE will remain closed for Children’s/Tomb-sweeping Day, whereas Hong Kong’s Hang Seng will be closed today for Easter.

Expecting a gap-down opening on Dalal Street today, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said, “Indian markets are expected to open on a muted note, with Gift Nifty pointing towards a flat start around the 22690–22700 zone. After a brief three-day pause, markets return to full trading with sentiment still anchored to global developments, particularly evolving tensions in the Middle East.”

So, the ongoing geopolitical tension in West Asia may continue to act as a major overhang, and the latest developments have added fresh uncertainty after Donald Trump signalled possible strikes on key Iranian infrastructure, including power plants and bridges. At the same time, rising risk around the Strait of Hormuz is creating a direct concern for global energy supply, pushing crude oil prices higher and keeping markets on edge.

The COMEX gold rate today is down by around 0.50% and is oscillating around $4,655/oz, while the COMEX silver rate today is down by nearly one per cent and is oscillating around $72/oz.

Speaking on the outlook of the COMEX gold rate today, Anuj Gupta, a SEBI-registered market expert, said the gold price today is in the broader $62 to $78 per ounce range, while the MCX gold rate today is in ₹1,45,000 to ₹1,57,000 per 10 gm.

“We expect the prevailing volatility to persist in the near term. Immediate resistance is in the 23,000–23,200 zone, with a key hurdle around 23,500, while support is at 22,300–22,000. Traders should remain cautious and adopt a hedged approach until clearer signs of stability emerge,” the Religare expert said.

On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index witnessed strong buying from lower levels, forming a long green candlestick, indicating demand at lower zones. The index has bounced from near the 78.6% Fibonacci retracement level rather than a clean reclaim, suggesting a relief pullback.

“RSI shows signs of a bullish crossover from oversold levels, confirming positive divergence and supporting a short-term recovery outlook. However, the broader trend remains weak, hence a cautious stance is advised. On the upside, 52,500–53,000 may act as resistance, while immediate support is placed around 50,500 levels,” said Vatsal Bhuva of LKP Securities.

2] Poly Medicure: Buy at ₹1334, Target ₹1430, Stop Loss ₹1287.

4] Tata Consumer Products: Buy at ₹1044, Target ₹1090, Stop Loss ₹1020; and

5] GAIL: Buy at ₹141, Target ₹149, Stop Loss ₹135.

7] Cummins India: Buy at ₹4646, Target ₹4850, Stop Loss ₹4560.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.