Pre-Market 1 April 2026: Dalal Street Ends FY26 In Red; Will Nifty Rebound Above 23,000?

Indian stock markets continued their downward trend as they ended the last trading day of FY26. Benchmarks remained under pressure throughout the session, a sign of investors' persistent concern. The market is set to reopen on 1 April after closing on Tuesday.

The Sensex fell 1,635 points, and the Nifty 50 fell 488 points on Monday, 30 March 2026, resulting in losses of more than 2% for the second straight session.

What Happened In The Last Session?

The fall was broad-based.

Banking stocks were among the biggest contributors to the decline. Both Nifty Bank and Nifty PSU Bank indices dragged the market lower.

The selling was persistent. There was no meaningful recovery during the session, and indices closed near the lower end of the day’s range.

At the same time, the rupee slipped past the ₹95 mark against the US dollar for the first time, adding to concerns around external stability.

What Drove The Sell-Off?

Geopolitical concerns continued to be a major trigger. Markets remained volatile due to uncertainty about the reopening of the Strait of Hormuz and the ongoing crisis in West Asia.

Selling by foreign investors persisted. With ₹11,163 crore sold in the most recent session alone, FIIs have now been net sellers for 21 straight sessions.

Changes in derivatives trading are also in focus. Effective 1 April, a higher securities transaction tax (STT) on F&O trades may have an immediate effect on trading volumes and sentiment.

Commodities & Global Signals

Gold and silver futures declined by about 2% and 1.32%, respectively, during the session.

Oil prices remained volatile. Brent crude had earlier surged close to $116.70 per barrel before easing back. More recently, prices slipped toward $111, while WTI crude moved closer to $102.

In global markets, US indices ended mixed. The S&P 500 fell 0.39% and the Nasdaq declined 0.73%, while the Dow Jones edged slightly higher.

European markets, however, ended firmly higher, with the FTSE rising around 1.6% and the DAX and CAC gaining about 1% each.

Bond markets moved as well. After three days of advances, the yield on US 10-year bonds eased to 4.344%. The action implies that rate expectations have somewhat cooled.

Volatility & GIFT Nifty

Ahead of the opening, signals are rather optimistic. GIFT Nifty was trading close to 22,672, up more than 240 points. This suggests that when markets reopen, there may be a rebound.

The uptick follows reports that the US could be open to ending the conflict with Iran. That has brought some relief to sentiment, at least for now.

The India VIX rose to 27.89, which tells you traders are expecting big swings to continue.

Technical Levels To Watch

Charts still show a pattern of lower highs and lower lows. That usually means sellers are in control.

At the same time, the recent fall has pushed the index into an oversold zone. Because of that, a short bounce towards 22,500–22,700 is possible.

However, if the index breaks below support, the next levels to watch are around 22,000–21,700.

Also Read - Post-Market 30 March 2026: Sensex And Nifty End Down By Over 2%

What Should Investors Expect Today?

Markets may see some relief at the start, but the broader picture remains uncertain.

For now, sentiment appears fragile. While short-term rebounds are possible, sustainability will depend on how these external factors evolve.

Investors are likely to stay cautious, focusing on selective opportunities rather than taking aggressive positions.

Sources:

The Economic Times

NDTV