Prime End of the Day Summary: View on Market Performance 08 April 2026

Nifty Surges 900 Points: US-Iran Ceasefire Sparks Biggest Gain Since May 2025

Nifty climbed for the fifth consecutive session, surging 873 points (3.78%) to close at 23,997, its largest single-session percentage gain since 12 May 2025.

It gapped up 732 points to open at 23,855, following news of a US-Iran ceasefire that defused geopolitical tensions and triggered a sharp crude oil plunge. After sharply higher opening, Nifty stayed strong throughout the day and settled near the session high. From the recent swing low of 22,182, the index has added 1,673 points in just four trading sessions, amid aggressive buying. Trading volumes surged too, with cash turnover jumping 50% from yesterday, the highest in two months.

The RBI’s Monetary Policy Committee unanimously held the repo rate steady at 5.25% on April 8, maintaining a ‘Neutral’ stance. It forecasted FY27 GDP growth at 6.9% (down from FY26’s 7.4%) and inflation at 4.6%.

In the Nifty pack, Shriram finance, Tata motor passenger vehicles (TMPV) and Adani net led the gains, while Coal India, Tech Mahindra, and Nestle buckled under selling pressure.

The rally swept broadly across sectors, with all indices closing green—Realty, Auto, and Bank delivering the biggest leaps.

The momentum extended to the broader market, with both Midcap 100 and Smallcap 100 indices surging over 4%. The BSE advance-decline ratio jumped to 7:1, underscoring fierce buying in mid- and small-caps.

The Indian Rupee (INR) appreciated for the fifth consecutive session, gaining 43 paise to settle at 92.58. The currency’s recovery was bolstered by Plummeting crude oil prices, Supportive RBI commentary regarding recent regulatory curbs and a risk-on sentiment across global equity markets.

Nifty has decisively reclaimed a level above its 20-day DEMA at 23,428, signaling a short-term bullish trend reversal. That said, after such a steep rally, a corrective phase cannot be ruled out. On the downside, 23,800 and 23,500 could provide immediate support, while on the upside the 50-day EMA at 24,225 may act as an initial resistance zone.