| Domestic equity indices ended Friday’s session with decent gains, recovering sharply after the steep decline witnessed in the previous session. The rebound was largely driven by value buying, as investors stepped in to pick stocks at lower levels. During mid-morning trade, the Nifty 50 traded above the 23,300 mark. However, gains were partially pared later in the session, with the index trimming some of its advances to settle above the 23,100 level. The recovery was supported by easing crude oil prices and stable global cues.
In the barometer index, the S&P BSE Sensex rallied 325.72 points or 0.44% to 74,532.96. The Nifty 50 index advanced 112.35 points or 0.49% to 23,114.50.
In the broader market, the BSE 150 MidCap Index added 0.66% and the BSE 250 SmallCap Index rose 0.47%. The market breadth was positive.
Among the sectoral indices, the Nifty IT index (down 2.17%), the Nifty PSU Bank index (up 2.07%) and the Nifty Pharma index (up 1.99%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Realty index (down 0.93%), Nifty Financial Services index (down 0.68%) and the Nifty private bank index (down 0.52%) the underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.65% to 6.773 compared with the previous session close of 6.729.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.7150 compared with its close of 92.8900 during the previous trading session.
MCX Gold futures for the 2 April 2026 settlement advanced 1.23% to Rs 146,705.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.28% to 99.33.
The United States 10-year bond yield added 0.40% to 4.300.
In the commodities market, Brent crude for May 2026 settlement jumped $1.47 or 1.35% to $110.12 a barrel.
Global Markets:
European shares traded lower on Friday as investors assessed the cautious tone struck by central banks across the region in the previous session.
The Bank of England kept its key rate unchanged at 3.75% and warned of faster price rises due to a fresh economic shock, with inflation seen near 3.5%.
Meanwhile, investors are pricing in over a 50% probability of a rate hike at the ECB’s April meeting.
Both the Swiss National Bank and Sweden’s Riksbank also held rates steady, citing uncertainty around the war in the Middle East. The decisions followed a hold from the U.S. Federal Reserve on Wednesday, which also took a cautious approach amid the escalating conflict.
Most Asian markets ended lower, following volatile trading on Wall Street overnight, as the Middle East war and disruptions to energy supply keep investors jittery.
The People’s Bank of China kept its key lending rates steady in March, with the one-year LPR at 3.0% and the five-year LPR at 3.5%, in line with expectations. The decision reflects a cautious stance amid global uncertainties, even as domestic data shows resilience, while property weakness and soft demand persist.
Japan’s markets were closed for a public holiday
Signaling efforts at calming concerns, U.S. President Donald Trump said that he was not deploying ground troops, and Israeli Prime Minister Benjamin Netanyahu stated that Israel would refrain from repeating attacks on Iranian energy facilities.
U.S.-aligned countries, including Britain, Canada, France, Germany and Japan issued a joint statement expressing “our readiness to contribute to appropriate efforts to ensure safe passage through the Strait” of Hormuz.
Overnight on Wall Street, the Dow Jones Industrial Average declined 0.44% to 46,021.43 points. The S&P 500 fell 0.27% to end the session at 6,606.49 points, while the Nasdaq Composite slumped 0.28% to 22,090.69.
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