Prime End of the Day Summary: View on Market Performance 04 March 2026

Nifty Tumbles Nearly 400 Points Amid Global Sell off

The Nifty opened nearly 500 points lower, triggered by a global markets rout. While a mid session recovery saw the index claw back 200 points to hit a high of 24,599, the momentum quickly fizzled out. A late-session slide of 150 points saw the Nifty finish at 25,480, down 385 points. Nifty has now corrected over 1,000 points in just three days. Trading activity remains high, with NSE cash market volumes rising 4% over the previous session.

In a sea of red, Bharti Airtel, Coal India, and Infy ended as Nifty’s top gainers, while Tata steel, motor passenger vehicles and SBI Life led the losers’ pack.

Excluding Nifty IT, every sectoral index closed lower, with Metals, PSU Banks, and Realty hit hardest amid surging crude prices that soured sentiment.

Midcaps and Small caps mirrored the benchmark’s pain, falling 2.16% and 2.11%, respectively. Market breadth stayed dismal for the third day, as BSE’s advance-decline ratio stood at 0.32.

The Indian rupee depreciated 68 paise to close at 92.15, its steepest two-session decline since May 2025. The currency remains under pressure as soaring energy prices intensified fears of persistent inflation and a widening trade deficit.

Short-term trend remains bearish, with Nifty below all key moving averages. Immediate support looms at 24,300–24,340; a decisive break could accelerate selling toward 23,900–24,100. On any rebound, the 24,600–24,800 range stands as a formidable overhead barrier.