Sensex, Nifty Emerge from Deep In The Red to End In Positive Zone 

Mumbai, April 2: Equity benchmarks Sensex and Nifty traded deep in red for major part of Thursday session before recovering sharply in last hour of trade to settle in green.
Sensex ended higher by 185.23 points or 0.25% at 73,319.55 and Nifty closed up 33.70 points or 0.15% at 22,713.10. It was remarkable comeback for the indices that lost more than 600 and 170 points respectively in early trade. Markets were choppy for most part of the session as bulls and bears battled it out before buying accelerated in last hour of trade.

At close, largecaps outperformed as seen from the split performance by broader market indices. While Nifty 100, Nifty 200, Nifty 500, Nifty Total Market and Nifty Microcap 250 ended higher, Nifty Smallcap 50, Nifty Smallcap 100 and Nifty Midcap 150 ended with losses, showing signs of recovery were led by largecaps only. Nifty Smallcap 50 was the biggest loser of the smallcap and midcap lot which closed down 0.54% at 7,625.85 followed by Nifty Smallcap 100 (down 0.38%) and Nifty Midcap 150 (down 0.32%). India VIX ended higher by 2.03% at 25.52.

Nifty IT Top Performer

Sectorally, buying was seen across Nifty IT, Nifty Realty and Nifty Metal stocks. Nifty IT was the top performer of the day gaining 2.60% to settle at 30,441.45 as buying interest continued in IT stocks. Nifty Midsmall IT & Telecom was the second biggest gainer of the day ending 2.09% higher. Nifty Realty (+1.07%) and Nifty Metal (+0.39%) also provided buying opportunity.

On the flip side, selling was seen largely in Nifty Consumer Durables stocks. Nifty Consumer Durables was the biggest sectoral loser ending down 0.93%. Nifty Pharma (-0.92%), Nifty Healthcare Index (-0.86%) and Nifty Chemicals (-0.81%) were other sectors which ended lower. Nifty Oil & Gas (-0.79%) also ended with losses.

Among derivatives-eligible indices, buying was seen in Nifty Financial Services (+0.25%), Nifty Bank (+0.19%) and Nifty 50 (+0.15%) while selling was seen in Nifty Midcap Select which ended down 0.53% at 12,394.55.

Markets Reax to Trump

Markets were volatile throughout the day as US President Donald Trump delivered an address to the nation, where he threatened Iran further with new sanctions against the regime, praised US soldiers fighting in Operation Epic Fury and told reporters that he had given them timeline for how long the war could last.

Oil prices extended gains on Trump’s speech as Strait of Hormuz has been blocked ever since fighting began and traders assess how it will impact oil supply. Brent crude futures rose more than 6% to $107.29 a barrel on supply concerns.

Rupee on other hand extended gains and was last seen trading at 93.29 a dollar — hitting 93.53 in early trade — up 1.4% intraday from its Monday’s close which is one of its biggest single session gains in recent past. RBI’s measures to curb currency speculation cheered market sentiment sending rupee higher across the board.

Source: 

• https://www.bseindia.com/index.html
• https://www.nseindia.com