KKN Gurugram Desk | The Indian stock market is witnessing a strong recovery after 10 consecutive days of decline. Today, Sensex gained over 560 points, while Nifty surged above 22,250. Key sectors such as automobiles, metals, and real estate saw significant gains. Meanwhile, Hindalco, ICICI Bank, NTPC, Tech Mahindra, and SBI were among the top gainers in the Nifty index.

In contrast, Bajaj Finance, Bajaj Finserv, L&T, SBI Life Insurance, and Cipla were among the biggest losers. The BSE Midcap and Smallcap indices both rose by 1%, reflecting a robust buying sentiment across smaller companies.

Market Recovery After a Long Decline

After a prolonged period of losses, the market has managed a strong comeback. The Nifty has gained over 150 points, crossing the 22,200 level. The Bank Nifty index also rose by 250 points. A notable trend today is the surge in IT stocks, with the IT index climbing by more than 2%. Additionally, sectors like auto, real estate, and energy also showed signs of positive movement.

The mid-cap and small-cap segments, which had been under pressure recently, saw substantial buying activity. These segments rose by nearly 2%, suggesting that investor sentiment is improving across various market categories.

Shreenath Paper’s IPO Debut on BSE SME at ₹40

In the latest IPO news, Shreenath Paper made its debut on the BSE SME platform. The shares listed at a significant discount to the IPO issue price. Initially priced at ₹44, the shares opened at ₹35.20, leading to a 20% drop in investor capital. Despite receiving over three times the demand during the IPO, retail investors are facing a negative listing gain.

L&T Secures Orders Worth ₹1,000-2,500 Crore

Engineering giant L&T has secured new orders in the range of ₹1,000-2,500 crore. These orders pertain to construction projects, including residential towers in cities like Mumbai, Bangalore, and Chennai. The company’s robust order book reflects its strong position in the infrastructure sector.

Vinay Rajani from HDFC Securities’ Market Outlook

Vinay Rajani from HDFC Securities provided his insights on the market outlook. According to Rajani, Nifty faces resistance at levels of 22,260 and 22,800, with support at 22,000 and 21,800. He recommended buying Nifty Futures above 22,250, with a stop-loss at 22,000 and a target of 22,700.

For the Bank Nifty, Rajani highlighted resistance levels at 48,972 and 49,600, while the support is seen at 47,800 and 46,600. He suggested buying Bank Nifty Futures above 48,500 with a stop-loss at 47,800 and a target of 49,500.

Positive Momentum in IT, Auto, Realty, and Energy Stocks

The IT sector has been the star performer today, gaining over 2%. Stocks like Coforge, Persistent Systems, Oracle, and BSOFT are seeing increased buying interest in the mid-cap segment. In addition to IT, auto, realty, and energy stocks have also seen upward momentum. Other sectors like chemicals, FMCG, and banking are showing positive market performance as well.

Preeti Chhabra from Trade Delta on Market Strategy

Preeti Chhabra, founder of Trade Delta, shared her analysis on Nifty‘s potential movement. She noted that Nifty has resistance levels at 22,260 and 22,444, while support is seen at 22,000 and 21,800. She recommended using the Iron Butterfly strategy to benefit from any possible consolidation in the Nifty. This strategy involves selling both call and put options at the same strike price, which typically works well when the underlying asset remains in a narrow range.

Chhabra also offered insights into Bank Nifty, with resistance at 48,574 and 48,900, and support at 47,924 and 47,840. She suggested buying Bank Nifty Futures around 48,000, targeting 48,550, with a strict stop-loss at 47,840.

Asian Markets Show Mixed Performance

Asian markets showed a mixed trend today. The Nikkei 225 in Japan rose by 0.07%, while the Straits Times index saw a 0.25% increase. The Hang Seng in Hong Kong gained 0.74%, and the Taiwan market surged by 1.30%. On the other hand, Shanghai Composite saw a slight decline of 0.13%.

Dollar Index Steady Amid Global Trade Concerns

The US Dollar Index remains steady at a three-month low, mainly due to rising trade tensions following recent US tariffs and counteractions from countries like Canada and China. This has caused mixed reactions in Asian currencies, with some strengthening and others weakening.

Nifty & Sensex Open on a Positive Note

Indian equity markets opened with a slight upward bias. The Sensex gained 150.39 points (0.22%) and was trading at 73,131.12. Nifty opened with a 35.85 points (0.16%) decline at 22,118.50.

Pre-Opening Market Trends: Sensex and Nifty Under Pressure

In the pre-opening session, Indian markets showed signs of weakness. Sensex fell by 236.31 points (0.32%) and was trading at 72,753.62, while Nifty was down by 65.25 points (0.30%) at 22,017.40.

Anuj Singhal on Bank Nifty Outlook

Anuj Singhal provided his views on Bank Nifty, noting some early signs of strength. He pointed out that SBI has been leading the recovery, followed by ICICI and HDFC Bank. However, he emphasized that the market may not sustain the uptrend unless 49,000 is crossed. Singhal advised investors to remain flexible, adopting both long and short strategies based on market movements.

Nifty Strategy for the Day: Anuj Singhal’s Insights

For Nifty, Anuj Singhal recommended keeping a stop-loss close to the previous day’s high, which was at 22,105. He suggested selling when the rally fails, with a strong support at 21,800-22,000. If 21,800 is broken, a larger decline might follow. Singhal also mentioned that a fresh short position should only be taken if 22,105 is surpassed.

Aditya Gaggar from Progressive Shares Discusses Market Performance

Aditya Gaggar, Director at Progressive Shares, noted that after a heavy fall, the market is recovering due to oversold conditions. The mid-cap and small-cap segments have gained strength, with a bullish engulfing candlestick pattern suggesting a possible trend reversal. Nifty currently finds support around 22,000, with resistance at 22,260.

Nifty Expiry Date Change Announced

The National Stock Exchange (NSE) has announced a change in the expiry date for F&O contracts. Starting from April 4, Nifty weekly expiries will be held on Mondays instead of Thursdays. Additionally, all monthly expiries will now occur on the last Monday of every month.

Meeting of PSU Bank Chiefs with Ministry of Finance

The Finance Ministry will hold a meeting with the chiefs of public sector banks today, following the recent budget announcement. The primary focus will be to review the performance and future outlook of these banks.

Grasim Industries announced the start of commercial production of paints at its new Birla Opus plant in Mahad. This is the sixth greenfield plant of the company, with five of them now operational.