The Indian stock market is likely to open on a weak note amid the prolonged war in the Middle East. US President Donald Trump cautioned that US forces will hit hard in the coming weeks and ‘finish the job soon’. GIFT Nifty also indicates a gap-down. The index opened by trading at 22,396, down 455 points from its previous Nifty futures close.
On Wednesday, 1 April 2026, the Sensex climbed 1,186.77 points or 1.65% to close at 73,134.32. On the other hand, Nifty 50 rose 348 points or 1.56% to settle at 22,679.40.
Broader markets also remained positive. The Nifty Small Cap 100 index rose 3.33%. The S&P BSE 150 Midcap Index gained 2.25%. Large caps were relatively flat, contributing slightly to the gains in the overall market. The BSE 100 index rose up 1.72%.
The Nifty PSU Bank sector was the top performer, rallying 3.70%. This development was driven by optimism around reforms from government banks. However, the Nifty Pharma sector lagged, falling 0.99%.
Technically, the Sensex formed a long-bodied red candle with small shadows on either side. This suggests that the session was dominated by sellers. The index has shown a slight pullback to lower levels, indicating demand near key support zones. Support is placed in the 72,400-72,500 zone. This could act as a key demand zone. The resistance is seen around 73,900-74,000. A break above this could supply a profit-booking pressure.
The Nifty 50 also formed a bearish candle. It saw a pullback from the oversold zone, forming a higher high and higher low. Immediate support can be seen at 22,500-22,400. Further pullback is possible if the index continues to stay above this level. A break below this level may drag the index again into a bearish trend. Resistance is at 23,500-23,600, a key supply zone. The trend can change from bearish to neutral if the 23,600 level is reclaimed.
On Wednesday, 1 April 2026, Bank Nifty gained 1,173.30 points or 2.33% to close at 51,448.65. The index formed a small-bodied doji candle with long wicks on both sides. Immediate support is placed near the 51,100-51,000 area. A break below this level could drag the index toward 50,800. It could even go down to 50,500 if selling intensifies. On the upside, 51,800-52,000 will act as resistance. A sustained move above this level at the close may trigger a rally toward 52,200.
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