According to bullion dealers, gold purchases are no longer clustered around festivals. Instead, price-sensitive buyers now wait for price drops. Read full report here

As of 12:00 PM, the Nifty50 was trading 0.44 per cent or 107.40 points higher at 24,465.60, and the Sensex was trading 0.54 per cent or 420.87 points higher at 78,914.41.

As of 11:00 AM, the Nifty50 was trading 0.28 per cent or 67.25 points higher at 24,420.80, and the Sensex was trading 0.39 per cent or 303.35 points higher at 78,796.89.

Paramdeep Singh, Founder of Long Tail Ventures, said, "Akshaya Tritiya often leads to over-allocation to gold, which is usually the wrong starting point. At current levels, gold is best kept to 5-10% of a portfolio as a hedge, not treated as an investment engine. SIPs in equities should remain the core, especially for long-term compounding. Doing both is fine, but the balance matters more than the occasion. For younger investors, Gold ETFs or digital gold make far more sense than jewellery, which locks in costs and limits flexibility."

The Thesis

Iran re-closed the Strait of Hormuz over the weekend and US talks collapsed; Brent is set to gap up from Friday's sub-$90 close. InvestorAi's book leans defensive with an explicit crude hedge - positioning for continued FII pressure (₹40k Cr MTD outflow) against Nifty's 24,353 close and a cooling but still-live VIX at 17.

Where We're Concentrated

Two themes dominate: a defensive wing in IT, FMCG and telecom to absorb FII outflow and VIX elevation, and an energy anchor via ONGC to monetize any crude re-rating. The thesis breaks if Iran cleanly reopens Hormuz, crude retraces toward $80, and FIIs flip to buyers - defensives would lag and the oil hedge would deflate in the same session.

Conviction Picks

Highest Conviction

ONGC

Direct beneficiary of crude re-rating after the weekend Hormuz reversal; the book's explicit geopolitical hedge.

Highest Conviction

Supreme Industries

Industrial cyclical ballast with broad momentum support, balancing the defensive tilt without crowding it.

Defensive Leadership

Infosys

IT largecap that typically outperforms when FIIs sell and the rupee softens on crude risk.

Stability Anchor

Marico

FMCG stability play against live weekend tail risk into Monday's open; insulated from crude second-order effects.

Cash-Flow Defensive

Bharti Airtel

Telecom with pricing power and recurring cash flows - the book's insulation from macro volatility.

One Thing to Watch

Brent at Monday's open versus Friday's sub-$90 close. A gap above $95 validates ONGC and the defensive barbell; a retrace under $88 signals de-escalation and makes the defensive tilt look expensive.

More than 20 ships transited the Strait of Hormuz on Saturday, the highest since March 1, including multiple tankers carrying oil, LPG and other cargoes from Gulf nations to Asia and beyond.

Aavas Financiers appointed Manu Yeshpal Singh as managing director and chief executive officer (CEO) with effect from April 21. 

Sachinderpalsingh Jitendrasingh Bhinder resigned as managing director and CEO with effect from April 20. 

ICICI Bank share price rose nearly 2 per cent to an intraday high of Rs 1,373.20 per share on the National Stock Exchange (NSE).

At opening, the BSE Sensex slipped to 78,239.87 levels, down by 253.67 points or 0.32 per cent. The NSE Nifty50 index was trading at 24,278.60 levels, down 75 points or 0.31 per cent.

In the pre-market session, the BSE Sensex rose to 78,624.37 levels, up by 130.83 points or 0.17 per cent, and NSE Nity50 rose 44.40 points, or 0.18 per cent to 24,397.95 levels. 

MCX said SEBI has approved its investment in a proposed Coal Exchange Company, marking a diversification move into the coal market.

Iran's Parliament Speaker Mohammad-Bagher Ghalibaf has stirred a debate in financial circles with a cryptic social media post on X. Amid the ongoing US-Iran war, Ghalibaf has questioned the long-held belief among global investors that US government bonds are the ultimate "safe haven" during geopolitical stress. Read full report here

Japan's Nikkei 225 rose 0.76 per cent, while South Korea's Kospi gained 0.98 per cent in early trade. Australia's ASX 200 fell 0.18 per cent.

The Strait of Hormuz has been closed again after the US and Iran accused each other of breaking a ceasefire following attacks on ships over the weekend.

A savings account solves for immediacy in a way no other instrument fully does. But beyond that narrow role, its utility drops off quickly. Read full report here

At the close on Friday (April 17), the total market cap of 30 BSE Sensex companies stood at Rs 4,65,64,461.51.