Indian equity markets staged a sharp intraday recovery on April 2, with benchmark indices rebounding strongly from early session lows even as they continued to trade in the red.
The Sensex was trading at 72,603.97, down 530.35 points or 0.73%, after witnessing a strong bounce of nearly 1,000 points from the day’s low of 71,545.81. The index had opened at 72,262.05 against a previous close of 73,134.32.
Similarly, the Nifty 50 recovered above the 22,500 mark, trading at 22,527.40, down 0.67% or 139.75 points. The index bounced back sharply from an intraday low of 22,182.55, indicating buying interest at lower levels. It had opened at 22,383.40 compared to the previous close of 22,679.40.
The broader market also reflected weakness despite the recovery, with the Nifty Bank index down 1.11% at 50,876.35, while the Nifty Midcap 100 index declined 1.12% to 53,216.30.
Market breadth remained slightly negative, with 1,431 stocks advancing against 1,463 declining shares on the NSE, indicating a mixed undertone despite the strong pullback from lows.
On the index contributors front, gains in select heavyweight stocks helped cushion the fall. Among the top Nifty gainers,
- HCL Tech rose 3.45% to ₹1,401.10 (volume: 3.34 million shares),
- Tech Mahindra gained 1.97% to ₹1,432.20 (volume: 1.13 million shares),
- TCS advanced 1.72% to ₹2,449.60 (volume: 3.35 million shares),
- Wipro climbed 1.40% to ₹193.85 (volume: 7.63 million shares),
- Hindalco was up 1.23% at ₹915.70 (volume: 5.24 million shares),
- Nestle India rose 0.91% to ₹1,191.60 (volume: 670,450 shares),
- Infosys gained 0.88% to ₹1,286.90 (volume: 5.85 million shares),
- Dr Reddy’s Laboratories added 0.55% to ₹1,216.30 (volume: 2.29 million shares), and
- Maruti Suzuki traded higher at ₹12,562.00, up ₹53.
Despite the recovery, overall index contribution remained negative, with draggers outweighing gainers. On the Nifty, pullers contributed +44.92 points, while draggers accounted for -193.99 points, resulting in a net decline of -149.07 points.
The sharp rebound from lows suggests strong buying support at lower levels, even as markets continue to remain under pressure. Investors are closely tracking intraday volatility, global cues and sectoral movements for further direction.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
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