Nifty settled at 22,679.40, gaining by 348 points or 1.56%, while the BSE Sensex closed at 73,134.32, declining by 1186.77 points or 1.65%.
Meanwhile, the volatility gauge India VIX ended at 25.01, down by 10.31% from the last closing.
Here’s how analysts read the market pulse:
Rupak De, Senior Technical Analyst at LKP Securities, said the sharp rebound found support near the rising trendline on the daily chart, drawn from the June 2024 and April 2025 lows. The recent price action shows signs of fatigue, which is typical after a sharp move, as markets often consolidate before deciding the next direction, he said.
“Although the broader trend still appears weak and tilted in favour of the bears, the index’s closeness to key support, along with the RSI divergence, points to early signs of a potential recovery. On the upside, resistance is placed at 22,800, above which the index could move towards 23,000 and higher. On the downside, a decisive fall below 22,200 may revive bearish momentum,” De said.
US markets
US markets opened higher on Wednesday, ahead of Trump’s address to the nation later today. While Dow 30 traded at 46,593.88, up 252.37 points or 0.54% around 10:19 a.m. EDT (7:50 pm). The S&P 500 gained 0.64% (41.90 points) at 6,570.42 while the tech-heavy Nasdaq Composite slipped 230.84 points or 1.07% and hovered around 21,821.47.
European Markets
Major European indices traded with sharp gains today. UK’s FTSE 100, Germany’s Dax, Stoxx 600, Spain’s IBEX 35 and French CAC 40 were trading between 1.3% and 3.06% around 3:10 p.m. BST.
Tech View
Decoding Nifty’s charts, Ajit Mishra, Senior Vice President – Research at Religare Broking, said the index has witnessed a relief rally after a steep 11% decline in March, though sustainability remains critical. He sees immediate resistance at the 23,000 – 23,200 zone, with a key hurdle at 23,500, while support is seen in the 22,300 – 22,000 range.
“Participants should closely monitor crude oil prices and the rupee for cues on the next directional move. From a trading standpoint, maintaining balanced exposure on both sides and preferring spread strategies over naked positions is advisable as a prudent risk management approach until the market stabilizes,” Mishra said.
Most active stocks in terms of turnover
HDFC Bank (Rs 338 crore), GMR Airports (Rs 301 crore), RPSG Ventures (Rs 152 crore), Hindustan Copper (Indigo, Rs 151), ICICI Bank (Rs 149 crore), Mazagon Dock (Rs 149 crore) and Reliance Industries (RIL, Rs 138 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 3.11 crore), SpiceJet (Traded shares: 1.8 crore), Ola Electric (Traded shares: 1.42 crore), YES Bank (Traded shares: 89.17 lakh), Suzlon (Traded shares: 73.28 lakh), Reliance Power (Traded shares: 68.39 lakh), and HDFC Bank (Traded shares: 77.87 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Trent, InterGlobe Aviation (Indigo), Cupid, Meesho, Cochin Shipyard, Garden Reach Shipbuilders & Engineers (GRSE) and Avenue Supermarts (DMart) were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Today, 62 stocks hit their 52-week highs while 220 stocks slipped to their 52-week lows. Among the ones which hit their 52-week highs were Aanchal Ispat, Acutaas Chemicals, GRE Renew Enertech, GSP Crop Science, GE Vernova T&D India, Jain Resource Recycling and Onix Solar Energy.
Stocks seeing selling pressure
Among the largecap names were Dr Reddy’s Laboratories, HDFC Life Insurance and Cipla. Other stocks which witnessed significant selling pressure were Sammaan Capital, Acutaas Chemicals, Hyundai Motors, Wonder Electricals, IPCA Laboratories, Westlife Foodworld and Sejal Glass.
Sentiment meter favours bulls
Heavyweights like RIL, State Bank of India (SBI), HDFC Bank, ICICI Bank and SBI aided the markets the most, as the breadth stayed negative in the overall markets. Out of the 4,437 stocks that traded on the BSE on April 1, Wednesday, 3,819 stocks witnessed advances, 521 saw declines while 97 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)