Sensex Today | Stock market Highlight: Bulls reclaim D-Street sentiment – Nifty ends above 22,700, Sensex up 185 points; Dow Futures down 1%

Markets ended on a positive note, with the Sensex closing at 73,319.55, up 185.23 points or 0.25%, while the Nifty settled at 22,713.10, gaining 33.70 points or 0.15%.

The losses today were widespread and extended across a host of sectors. Several sectors clocked significant losses. Some of the key sectors that bore the brunt of the pain include the likes of EMS, tyres and shipbuilding companies.

The Nifty IT index is trading higher by over 2%.

Among individual stocks, Coforge is up around 6%, while L&T Technology Services has gained about 4.5%. HCLTech and Mphasis are trading higher by nearly 4% each, and Persistent Systems is up around 3.5%. Tech Mahindra has risen over 2%, while TCS and Wipro are also trading higher by close to 2%. Infosys is up over 1.5%, and Oracle Financial Services Software is seeing a modest gain of around 1.4%.

Among the top gainers in the Sensex pack at this hour, HCLTech is up 4.02%, Tech Mahindra has gained 2.76%, TCS is higher by 1.78%, Infosys has risen 1.34%, and Maruti is up 0.88%.

In late trade, Indian markets showed signs of recovery after a weak start, with bulls attempting to regain control. The Sensex is trading at 73,138.47, up marginally by 4.15 points or 0.01%, while the Nifty is hovering near the flat line at 22,673.75, down just 5.65 points or 0.02%.

" The escalation in geopolitical tensions today aggravated the already cautious stance, accelerating the pace of decline. Volatility also picked up, with India VIX rising 5%, reflecting heightened nervousness. The decline was further exacerbated by continued FII selling is the last few weeks.," said Ajay Menon, MD & CEO – Wealth Management, Motilal Oswal Financial Services.

He added that owing to the holiday-shortened trading week and heightened sensitivity to global cues, the Near-term sentiment is expected to remain volatile and headline-driven, with further direction contingent on developments in the US–Iran conflict and movements in global energy prices.

The Nifty 50 index was trading 0.83% lower at 22,491. While the BSE Sensex was 0.7% low at 72,612.16. In the Nifty 50 index 41 constituents had extended declines and were in red while 8 advances. It stocks were extending gains.

Share prices of HCL Tech was up by more than 3% , Tech Mahindra was up more than 2%, TCS and Wipro were up nearly 2%.

The Indian rupee is staging a comeback as in the intra-day session the currency jumped up nearly 2% and was trading at 92.94 against the US Dollar. On Monday, the currency fell to an all time low of 95.22 in the intra-day session.

The sharp rise for the currency as the RBI imposed curbs on speculative activity by restricting bank's open net positions in the onshore forward delivery market.

Japan's Nikkei 225 closed 2.38% lower on Thursday as Trump threatened of more strikes in Iran, fuelling Middle East tensions. The index shed its earlier gains of as the broader Topix fell 1.61% to close at 3,611.67.

Analysts have noted that the escalations in Iran were somewhat expected owing to Trump's vacillated stances. However, they added that main concern is over the Strait of Hormuz and when will the crucial trade route open.

Experts have pointed that reopening of the waterway passage, is likely to push Asian equities higher, as most countries in the continent rely on Middle East for their energy flows.

"US Markets shrugged off their March slump and kicked off April on a strong note, with all three major indexes extending their Tuesday gains into Wednesday.

Nasdaq gained 1.2% driven by enthusiasm around memory and data storage stocks.

Investors’ primary concern is the fate of the Strait of Hormuz. Any cessation of outright warfare would be a good thing—hopefully no one wants to see casualties and major disruptions—but the notion that it might occur without a reopening of the Strait of Hormuz seemed rather incomplete.

A ceasefire is a necessary condition for a resolution; reopening the Strait is the only condition sufficient to return global economies to a state of relative normalcy," said Vikram Kasat, Head - Advisory, PL Capital

Nifty 22679.40

23150: We need to cross

Resistance: 23480 breakout

Immediate Support: 22450

Breakdown Level: 22280

"The index formed a bearish candle ( as the close was below the open) with a higher high and a higher low highlighting pullback from oversold territory. The index however failed to sustain at higher levels and gave up some of its opening gains to close the session around 22,700 levels. Volatility is likely to remain elevated in the near term, amid rising geopolitical tensions and higher crude oil prices, which continue to weigh on overall market sentiment," said Bajaj Broking.

"In today's session it is opening gap down around Monday's low of 22,300. Holding above the same can led to some consolidation in the range of 22,300-22,900. Failure to do so will signal extension of the decline towards the key support area of 22,100-21,800. For any meaningful pause in the overall downtrend, the index needs to start forming higher highs and higher lows on the daily chart on a sustained basis along with a close above the previous week’s high of 23,465. Key support is placed in the 22,100–21,800 zone being the trendline support joining last 2-year lows and the 200 weeks EMA," added Bajaj Broking.

"Equity markets witnessed a sharp correction today after the fresh comments from US President dashed hopes of a near term resolution, while raising the rhetoric over the continued “extremely hard” attacks on Iranian power and oil infrastructure. While the BSE Sensex fell over 1,500 points (-2.1%), the Nifty 50 declined by 475 points (-2.1%) to trade near 22,200 levels," said Ajay Menon, MD & CEO – Wealth Management, Motilal Oswal Financial Services.

"Trump’s statement that the U.S. could strike Iran “extremely hard” over the next 2–3 weeks, without offering any clear timeline for de-escalation, has significantly heightened near-term geopolitical uncertainty," he added.

Furthermore he noted, "Given the holiday-shortened trading week and heightened sensitivity to global cues, the Near-term sentiment is expected to remain volatile and headline-driven, with further direction contingent on developments in the US–Iran conflict and movements in global energy prices."

Markets in the afternoon trade remained under pressure, with the Sensex at 71,800.98, down 1,333.34 points or 1.82%, while the Nifty stood at 22,266.00, falling 413.40 points or 1.82%.

The share price of Bharti Airtel moved lower on April 2, slipping around 2% in the intraday trading session amid a weak overall market trend. The decline came even as the company continued to report steady growth in its user base.

According to data released by the Telecom Regulatory Authority of India (TRAI), Airtel added over 48.5 lakh new subscribers in February. The company also outpaced Reliance Jio in net additions in the wireline segment during the same period.

The overall telecom market also saw expansion, with the total subscriber base increasing by 73.1 lakh to reach a record 132.13 crore in February.

Shares of Sun Pharma came under pressure today, falling up to 6% in the intraday trading session following reports that the US administration may impose tariffs on pharmaceutical companies.

The weakness was not limited to one stock, as other pharma companies also traded lower.

While the broader market remained under pressure today, V-Mart Retail moved in the opposite direction. This stock is one among the few gainers in the session.

The stock climbed as much as 12% in the early trade today.

V-Mart’s movement appeared largely driven by company-specific developments rather than broader market trends.

The retailer had released its fourth-quarter business update after market hours on Wednesday. It reported a 24.5% year-on-year rise in revenue for the March quarter, with figures reaching Rs 971 crore compared to Rs 780 crore in the same period last year.

Three mainboard IPO got listed today. These IPOs were listed on both NSE and BSE.

Powerica had a weak debut, with its shares listing at Rs 366 on the NSE, which is about 7.3% lower than its issue price of Rs 395.

Similarly, Amir Chand Jagdish Kumar (Exports) also listed at a discount. The stock opened at Rs 200 on the NSE, down around 5.6%, and at Rs 185 on the BSE, a steeper discount of nearly 8% compared to its issue price of Rs 212.

On the other hand, Sai Parenteral saw a modest listing. The stock debuted at Rs 400 on the NSE, slightly above its issue price of Rs 392, marking a gain of just over 2%. On the BSE, it opened at Rs 405, slightly higher premium of around 3.3%.

At 10 am, the markets were under heavy pressure, with the Sensex falling 1,546 points (2.11%) to 71,588.17, while the Nifty slipped 485 points (2.14%) to 22,194.30.

Stocks across sectors were under pressure, with Tata Steel down 3.3%, Adani Ports falling 3%, Eternal slipping 3.4%, Larsen & Toubro declining 3.5%, Sun Pharma dropping 4.%, and IndiGo losing 4.2%.

All the sectoral indices are trading in the red today. Nifty Auto was down 2%, while Financial slipped 2%.

Nifty FMCG declined 1%.

Selling pressure was also visible in other sectors, with Nifty Media and Nifty Metal falling 2% each.

Nifty Pharma saw a sharper decline of 3.7%, while Nifty PSU Bank dropped 3% and Nifty Private Bank was lower by 2%.

Among the broader sectors, Nifty Realty fell 3.4% and the Nifty Healthcare Index declined 3.5%. Nifty Consumer Durables was down 3%, while Nifty Oil & Gas slipped 2%.

Meanwhile, Nifty IT saw a marginal fall of 0.55%.

The share price of the aviation sector stock - InterGlobe Aviation, which operates IndiGo, came under pressure in early trade today, April 2, falling as much as 5%. The decline followed the airline’s latest announcement on revised fuel charges.

The company said it has updated its fuel surcharge, with charges now ranging between Rs 275-10,000. This change is likely to increase ticket prices for several domestic and international routes.

The revision comes after a change in aviation turbine fuel (ATF) prices. Rising fuel costs continue to remain a key concern for airlines, directly impacting operating expenses.

At the same time, the government has allowed only a partial increase of about 25% in ATF prices for domestic flights, which has also influenced pricing decisions by airlines.

As per financialexpress.com data page:

The Indian rupee opened at 93.53 mark against the US Dollar bouncing back sharply from its Monday's low of 95.22. " On the global front, markets remain caught between hope and hesitation. Conflicting signals from the U.S. regarding the ongoing Iran conflict have kept sentiment uncertain," said analyst at CR Forex Advisors.

" From a technical standpoint, if the ongoing unwinding continues to release dollar supply, the 92.50–92.80 zone could act as a near-term support. On the upside, 94.80–95.00 remains a strong resistance band, where demand has consistently re-emerged," the added

The big market losers in today's session include Index heavyweights like Sun Pharma, Adani Group stocks, IndiGo, Eternal and several other.

Markets opened sharply lower on Thursday, with the Sensex at 71,703.89, down 1,430.43 points or 1.96%, while the Nifty slipped to 22,235.65, falling 443.75 points or 1.96%.

Today's market sessions would be in high focus with Trump's remarks. Giving Nifty outlook for today, Anand James, Chief Market Strategist at Geojit Investments, says , " Inability to float above 22770 after the upside gapped opening yesterday, point to underlying weakness."

He adds, " We will go in today, eying 21900, but 22330 may be expected to offer some buying interest. However it would require consistent trades above 22630 to shrug off weakness. "

Speaking on the market sentiment at the moment, Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments pointed out, "With President Trump’s declaration “ we are going to hit Iran extremely hard in the next two to three weeks, “ market sentiments have again turned negative. Brent crude spiked around 5% to $105 and the US 10-year bond yield again firmed up to 4.36 percent negatively impacting gold and silver prices, though marginally. "

"Meanwhile, FPIs continued selling heavily with a sell figure of Rs 8331 crores on April 1st. The high crude price, the widening trade deficit, the fear of declining remittances and sustained FPI selling are acting cumulatively to put high pressure on the rupee which continues to decline despite RBI’s decisions on restrictions on dollar futures deals.

"President Trump’s statement that “we will finish the job in two to three weeks” cannot be taken at face value since the president has been notoriously inconsistent in all his views. He can change his position anytime.  The March auto numbers reflect great resilience in the sector, and this has the potential to keep auto stocks relatively strong even in an otherwise weak market."

According to Finrex Treasury Advisors, the Indian Rupee is expected to open at 93.20 mark against the US Dollar. The domestic currency markets were closed on Tuesday and Wednesday for local holidays.

The firm expects the domestic currency to trade in the 93-94 range today against the greenback. On Monday the currency had slipped to a record low of 95.22 against the US Dollar breaching the crucial 95 level.

Following Trump's address, major Asian stock indices extended declines. Japan's Nikkei 225 is down by 1.88%, South Korea's Kospi is fell 3.76% and Hong Kong's Hang Seng is 1% lower.

The prolonged West Asia crisis has had a severe impact on Asian stocks as the continent is heavily reliant on Middle East for its oil and energy supply.

Following trump's address, the dollar index gained strength and rose 0.33% on day. Greenback has emerged as a safe-haven winner over the month-long war. The dollar index which gauges the strength of dollar against a basket of six other currencies was trading at the 99.78 mark.

A firm dollar makes makes interest yielding assets like bonds and currency more attractive for holders of other currencies.

India’s information technology sector is heading into Q4 earning sseason with growth expected to remain subdued and deal momentum uneven. A March 2026 preview by Motilal Oswal indicates that recent narrative shocks and global uncertainty have weighed on sentiment, even as earnings expectations have not seen sharp downgrades. Within this backdrop, the brokerage has identified a handful of companies where execution strength and business mix offer relative comfort. The stocks included Coforge, Infosys, HCLTech and Tech Mahindra.

US crude inventories increased sharply by 5.5 million barrels to 461.6 million in the week ended March 27, significantly exceeding expectations of an 814,000-barrel rise. Stocks at Cushing, Oklahoma, rose by 5,20,000 barrels. Refinery activity weakened, with crude runs down by 2,19,000 barrels per day and utilisation rates slipping 0.8 percentage points.