Prime End of the Day Summary: View on Market Performance 28 April 2026

Nifty Dips Nearly 200 Points Amid April Expiry Volatility

Following yesterday’s strong recovery, Nifty faced renewed selling at higher levels today, dropping 97 points to close at 23,995. It opened 43 points lower but rebounded swiftly, holding steady till the first two hours. Post-11 a.m., a sharp reversal saw it plunge more than 220 points intraday, settling near the day’s low. NSE cash market volumes rose 5% from yesterday. NSE Cash Market volumes were higher by 5% as compared to yesterday.

ONGC, Adani Enterprises, and Coal India led Nifty gainers, while Axis Bank, Maruti, and HCL Tech endured the heaviest selling as top losers.

Barring Nifty Oil & Gas, Metals, and Chemicals, all other sectoral indices ended green. Amongst them, Nifty PSU Banks, Private Banks and Auto posted the steepest declines.

Nifty Midcap 100 and Smallcap 100 bucked the trend, up 0.28% and 0.42% respectively. Market breadth weakened, with the advance-decline ratio at 0.90, hinting at selective profit-booking after weeks of strong gains.

The rupee depreciated 35 paise with Asian peers, closing at a one-month low of 94.54, fueled by rising crude prices, risk-off sentiment, and expected dollar demand from corporate remittances.

Key resistance emerged near the 50 DEMA at 24,197, which now acts as an immediate hurdle, while support holds firm around 23,800.