Prime End of the Day Summary: View on Market Performance 02 April 2026

After yesterday’s brief respite, the Nifty opened with a 300-point gap down at 22,383. The sell-off intensified early on, with the index sliding to a low of 22,182 within the first hour. However, a sharp reversal post-10:15 AM saw the index rally 600 points from its lows, eventually closing 33 points higher at 22,713. Despite this sharp intraday bounce, the index still recorded its sixth consecutive weekly loss (down 0.47%), a losing streak not seen since the COVID-19 era. Trading activity was somewhat subdued, with NSE cash market volumes dipping 8% compared to the previous session.

In the Nifty pack, HCL Tech, Tech Mahindra, and Tata Consumer were top gainers, while Asian Paints, Eicher Motors, and Sun Pharma endured the heaviest selling pressure.

Sectorally, it was a mixed bag: IT, Realty, and Metals led the gains, but Consumer Durables, Pharma, and Healthcare lagged the most.

Nifty Midcap 100 and Smallcap 100 both surged over 3% from lows before settling with modest losses. Market breadth flipped sharply positive, with BSE advance-decline ratio at 1.70, reflecting fresh buying in mid- and small-caps from lower levels.

Post two days of holidays, Indian rupee surged 173 paise or 1.82% to close at 93.10, highest percentage gain in a single day since 19-September 2013, fueled by RBI’s targeted interventions to tame speculation and volatility.

Despite forming lower lows, the bullish RSI divergence on the daily chart remains intact, preserving hopes for a sustainable pullback. Support holds firm at 22,283, while upside resistance looms at 22,941 and 23,465.