Prime End of the Day Summary: View on Market Performance 07 April 2026

The Nifty rose 155 points to close at 23,123, marking its fourth consecutive gain. It opened 130 points lower and plunged to the day’s low of 22,719 within the first five minutes. Post 9:20 AM, the index reversed sharply, rallying over 400 points from the low to settle near the session high. Trading stayed subdued, with NSE cash volumes dipping 5% from the prior session.

In the Nifty pack, Wipro, Hindalco, and TCS led the gains, while Dr. Reddy’s, IndiGo, and Adani Enterprises faced selling pressure as top losers.

Barring Nifty PSU Banks and Consumer Durables, all sectoral indices closed in the green with IT, Realty, and Metals posting the strongest advances.

Both Nifty Midcap 100 and Smallcap 100 rebounded sharply from early morning lows to end flat. Market breadth stayed strong for the fourth day, with BSE advance-decline ratio at 1.70, signaling sustained buying in mid- and small-caps.

The Indian rupee extended its four-session winning run, gaining 5 paise to 93.01, fueled by lower crude prices, domestic equity recovery, and RBI-driven unwinding of bank arbitrage positions.

Nifty has now closed above its 10-day EMA for the first time since the U.S.-Iran-Israel War erupted, also topping last week’s high, a clear bullish signal. The short-term trend has reversed, with resistance near 23,500 and support at today’s low of 22,719.