Nifty & Sensex Today: Indian stock market indexes ended the volatile trading session with heavy losses, declining for the third consecutive day following the weak global cues. The trade war and mounting recession in the US fueled the global stock market rout. The Nifty price index made a new low of 21743 levels below 22000 today.
The equity benchmark indexes, the S&P BSE Sensex, tumbled 2226.79 points or 2.95% to 73137.90. The Nifty 50 index tanked 742.85 points or 3.24% to 22161.60. In the last three consecutive sessions, Nifty and Sensex dropped nearly 5%.
The broader markets underperformed the benchmarks. The NSE Midcap and the Smallcap indexes also fell by 3.63% and 3.88%, respectively. The NSE’s volatility index “ India VIX” soared 65.70% to 22.79.
On the sectoral front, the Nifty PSU Bank index was down 1.10%, IT was down 2.5%, and Pharma declined 2.75%. Meanwhile, the Metal Index fell sharply by 6.75%, the Realty Index fell by 5.69%, and the Media Index was down by 3.94%.
The Reserve Bank of India (RBI) Monetary Policy Committee meeting (MPC) has begun today for the new financial year. The outcome of the RBI meeting is scheduled for 9th April 2025.
Nifty & Bank Nifty Price Movement and Key Levels for Tomorrow
The NIFTY Price index opened with a sharp gap down of around 1150 points (-5%) following negative global cues. However, buyers quickly stepped in, helping the index recover and close higher at 22,161, down 3.24% for the day.
Nifty Price Index, on the hourly chart, managed to close above its 20 EMA (22,092), indicating signs of stability in the market. From a momentum perspective, the RSI stands at 56.16, suggesting strength and potential for upward movement.
Technically, for today’s session, the Nifty outlook remains sideways to positive as long as NIFTY holds above the 22,000 mark. Key resistance levels to watch are 22,388 and 22,709, while support is seen at 21,758 and then 21,500.
The BANK NIFTY index opened sharply lower at 49,336, posting a gap down of over 2,170 points (>4%) due to a global issue. However, buyers stepped in and drove a recovery, with the index closing at 49,860.10, down 3.19% for the day.
On the hourly chart, BANK NIFTY attempted to break above its 20 EMA but couldn’t sustain the move. Despite that, the index reflects positive momentum, as evident from the strong buying interest that lifted it off the lows. For today’s session, the outlook remains sideways to positive as long as BANKNIFTY holds above the 49,000 mark. Key resistance levels are seen at 50,000 and 50,400, while immediate support lies at 49,156, followed by 49,000.
Conclusion
Investors should remain cautious, a global market volatility is not over. The US markets are trading in the deep red, indicating a gap-down opening for the domestic markets tomorrow.
Read more here: BSE and NSE Holidays 2025: A Complete Guide
Happy Investing!
Editor’s Desk