The Indian stock market closed Monday’s session, April 20, largely unchanged, as it consolidated following a recent recovery while traders continued to monitor developments in West Asia amid resurfacing tensions.
After three straight weeks of gains, the Nifty 50 ended flat at 24,831, while the S&P BSE Sensex also closed flat at 78,603.
Broader markets were closed in red, with the Nifty Midcap 100 index falling 0.18% and the Nifty Smallcap 100 dropping 0.45%, slightly outperforming the benchmark indices.
On the geopolitical front, the United States said it had seized an Iranian cargo ship that attempted to breach its blockade, prompting Iran to vow retaliation. This triggered a rebound in crude oil prices after they had slipped last week to levels seen in the early days of the Iran conflict.
US President Donald Trump said on Sunday that the US had seized an Iranian-flagged cargo ship that tried to bypass a naval blockade. Iran’s joint military command said Tehran would respond soon and termed the US action an act of piracy.
A fragile two-week ceasefire between the US and Iran is set to expire on Wednesday, while escalating tensions in the Strait of Hormuz are raising questions over fresh talks to end the conflict. Iran also reportedly said on Monday that it has no immediate plans to attend any talks with the United States.
