In a highly volatile session on April 2, the Indian market ended on a positive note, with the Nifty closing above 22,700, supported by IT stocks after the Indian rupee posted its biggest gain in more than 12 years.


The market had opened on a gap-down note amid escalating US–Iran tensions, rising crude oil prices, and weak global cues. However, persisted selling throughout the session, dragged the Nifty below 22,200 to an intraday low of 22,182.55. However, strong buying in the final hour helped the indices recover all losses and settle near the day’s high.

At close, the Sensex was up 185.23 points or 0.25 percent at 73,319.55, and the Nifty was up 33.70 points or 0.15 percent at 22,713.10.

Broader market ended lower with the Nifty Midcap index falling 0.3 percent and Smallcap index declining 0.4 percent.

For the week, BSE Sensex shed 0.35 percent and Nifty50 declined 0.46 percent.

The market will remains shut on Friday (April 3) on account of Good Friday.

The rupee recorded its biggest gain in over 12 years after the Reserve Bank of India introduced additional measures to curb currency volatility. The INR strengthened by 173 paise to close at 93.10 against Monday’s closing level of 94.83.


HCL Technologies, Tech Mahindra, TCS, Tata Consumer, Wipro were among top gainers on the Nifty, while losers were Eternal, Asian Paints, Eicher Motors, Bajaj Auto and Sun Pharma.

Among sectors IT index rose 2.6%, realty up 1%, while auto, PSU Bank, oil & gas, pharma, consumer durables shed 1% each.

More than 140 stocks touched their 52-week low on the BSE, including Sapphire Foods, Blue Star, Cholamandalam Investment and Finance Company, Devyani International, PG Electroplast, Godrej Properties, Lodha Developers, Tata Communications, KEC International, DLF, Havells India, Indian Hotels, ICICI Prudential, Bajaj Holdings, LIC India, Max Healthcare, JSW Infra, Kotak Mahindra Bank, SBI Card, Bajaj Finserv, among others.

In stock-specific action, V-Mart Retail shares surged 10% after a 24% jump in Q4 revenue, while TVS Motor Company shares slipped 1% despite a 25% rise in March sales.

Force Motors gained 2% as March sales increased 13.5%, whereas Hero MotoCorp declined nearly 2% even though total sales for March rose 8.8%.

Among others, Astra Microwave Products climbed 6% after its joint venture secured orders worth Rs 250.58 crore, and Ola Electric jumped 9% after reducing the price of its Roadster 9.1 by Rs 60,000.

Additionally, Bansal Wire Industries advanced 7% following a 20% increase in Q4 sales.