Record highs on nifty and sensex, the BSE midcap index rose 1.6 percent and the smallcap gained nearly 3 percent
The Indian equity market began the 2024-25 financial year with a strong start, hitting new highs on April 1. The Sensex and Nifty rose by 0.49 percent and 0.61 percent respectively, reaching new highs of 74,254.62 and 22,529.95, respectively. However, profit booking at higher levels erased some gains later in the day.
The Nifty index saw gains for Tata Steel, JSW Steel, Adani Ports, Shriram Finance, and Divi’s Labs, while losses included Eicher Motors, Titan Company, Bajaj Auto, LTIMindtree, and Nestle. Other sectoral indices saw gains in metal, power, capital goods, healthcare, and realty.
Sectors and stocks
The BSE midcap index rose 1.6% and smallcap nearly 3%. Hindustan Copper, DLF, and Indus Towers experienced a long build-up, while Eicher Motors, Godrej Consumer Products, and Hero Moto Corp experienced a short build-up. Over 1050 stocks reached their 52-week highs on the BSE.
April 02 Forecast
The markets began the new financial year strong, but heavyweights dragged the Index down slightly. Media and Realty were top performers, followed by Metal. Auto and FMCG ended the day with minor losses. Broader markets gained, with Mid and Smallcaps outperforming the Nifty50. The Index has made a DOJI candlestick pattern, indicating indecisiveness between bulls and bears. To extend the bull run, it must breach 22,500.
The market began the week with modest gains and reached new life highs, gaining over half a percent. Nifty traded lackluster, closing around the opening range at 22462 levels. Sectoral performance was good, with realty and metal performing well. Smallcap gained over three percent, while midcap closed higher by one and a half percent. Participants should maintain a “buy on dips” approach, with the banking pack playing a critical role in maintaining momentum.
| FII Sold | -522.30 Cr |
| DII Bought | 1,208.42Â Cr |
Indian Market Stocks
| Sensex | 363.20 | +0.49% | 74,014.55 |
| Nifty 50 | 135.10 | +0.61% | 22,462.00 |
| Nifty Bank | 453.65 | +0.96% | 47,578.25 |
Market Movers
| JSW Steel | 41.75 5.03% | Eicher Motors | -72.65 -1.81% |
| Tata Steel | 7.30 4.68% | Titan Company | -63.40 -1.67% |
| Divis Labs | 122.65 3.56% | Nestle | -36.75 -1.40% |
| Shriram Finance | 71.95 3.05% | Bajaj Auto | -106.00 -1.16% |
| Adani Ports | 34.05 2.54% | LTIMindtree | -55.80 -1.13% |
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Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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