Stock market today: Sensex cuts losses, up 1500pts from day's low, Nifty at 22,600; key reasons

Home / Markets / News / Sensex cuts losses, up 2k pts from day's low, Nifty at 22,700; key reasons

Sensex cuts losses, up 2k pts from day's low, Nifty at 22,700; key reasons

Stock market today: Indian equity benchmark indices Sensex and Nifty staged a sharp recovery on Thursday, April 2, driven by a stronger rupee and selective buying across certain sectors

Why Stock Market UP Today

Devanshu Singla New Delhi

Listen to This Article

Indian equity benchmark indices Sensex and Nifty staged a sharp recovery on Thursday, April 2, driven by a stronger rupee and selective buying across certain sectors.

At close, BSE Sensex recovered 2,022.73 points or 2.8 per cent from day's low of 71,545.81 and NSE Nifty50 gained 599.75 points or 2.7 per cent from day's low of 22,182.55. Sensex closed 185.23 points or 0.25 per cent higher at 73,319.55 and Nifty50 settled at 22,713.1, up 33.7 points or 0.15 per cent.

All the major sectors witnessed a rebound from their respective lows. At close, the Nifty IT index was the top gainer, up 2.6 per cent. However, the broader markets indices settled lower with the Nifty Midcap 100 and Nifty Smallcap 100 down 0.26 per cent and 0.38 per cent, respectively.

Among the Sensex constituents, 19 out of 30 stocks advanced. HCL Tech, Tech Mahindra, and Infosys were among the top gainers.

Here are the key reasons behind recovery:

Heavy buying in IT: The Nifty IT index defied the market selling to jump more than 2 per cent in trade. At close, the IT index was up 2.6 per cent, at 30,441.45. All the 10 constituents were trading firmly in the green, with Coforge, LTIMindtree, Mphasis and Persistent Systems leading gains, up to 4 per cent. ALSO READ: Coforge announces strategic partnership with Solstice Innovations Inc. Value buying: Value buying emerged strongly in the fag-end session, with buying visible across the board. The Nifty Metal index, which had plunged nearly 3 per cent earlier in the day, pared its losses to trade flat around 2 PM. The Nifty Auto index also staged a sharp recovery and was down just 0.40 per cent. A similar trend was seen in the Nifty PSU Bank index, which bounced back significantly from an intraday fall of 3.5 per cent to trade down only 0.8 per cent.

Rupee recovery: The rupee recovered sharply on Thursday against the US dollar, backed by the Reserve Bank of India's move to restrict banks' net open position in the onshore forward delivery market. The local unit gained around 2 per cent to trade below 93.

Rupee has remained under pressure due to unabated withdrawal of foreign capital, strengthening dollar and rising crude oil prices amid a volatile geopolitical situation.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 02 2026 | 2:35 PM IST