Fall, bounce back, and finish in the red. That essentially sums up today’s trading activity. After a day off for Holi, the marketplaces reopened. It was a sea of red, as one might imagine. The Sensex fell 1,700 points in response to global trends, while the Nifty fell below 24,400, actually closer to 24,300.
Both the Nifty and the Sensex ended the day in the negative, but they were much higher than the day’s low. Just short of the critical and psychologically significant 24,500 level, the Nifty ended the day at 24,480. In contrast, the Sensex finished down more than 1,100 points. Even though this is a big cut, it still represents an 800-point rebound from the low point of the day. Even in the small and midcaps, indices closed off intraday lows despite far greater cuts.
While incremental foreign outflows cause short-term market volatility, the INR’s ongoing depreciation continues to be a major issue. Because present price levels may provide a strategic entry point for the medium to long term, we advise investors to resist panic sell-offs, adopt a disciplined, long-term view, and exercise patience over the coming weeks.
Large-cap blue chips like L&T were among the index stocks that suffered the most. Investors are concerned because of the company’s substantial exposure to the Middle East. Consequently, over the past two days, the price of L&T shares has dropped by almost 12%.
The Rupee suffered its biggest one-day decline since early January. The euro broke through the crucial 92/$ barrier, which provided some assistance for IT equities. Infosys was up more than 1%, while the majority of the counters were up.
Moving forward, the 24,300–24,350 range serves as the Nifty’s immediate support. In August 2025, this zone served as a powerful support. Any sustained decline below this range might cause the Nifty to worsen further, eventually reaching 24,100 and perhaps 23,800. The 24,650–24,700 range is probably going to be an instant barrier on the upward.
