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Nifty +7.46%, Midcap +13.55%, Realty +21.9% — the reversal after March
Published by The Retail Trader · APR 30, 2026 · Monthly Audit
In March 2026 Nifty fell 11.31%. In April it came back 7.46% — and the sectors that had fallen the most were the ones that bounced the most. This is the classic shape of a rebound.
20 sessions:
• Midcap 100 — +13.55%
• Nifty 500 — +10.50%
• Bank Nifty — +9.13%
• Nifty 50 — +7.46%
• Sensex — +6.90%
The ladder is exactly the reverse of March: whatever fell the most in March rose the most in April. Across Nifty's 20 sessions, 12 were up and 8 were down. The best day was 8 April (+3.78%) — the biggest single-day gain of all of 2026.
April's return, with March's in brackets:
• Realty — +21.9% (March -16.6%)
• Media — +15.4% (March -10.9%)
• Metal — +15.2% (March -9.0%)
• FMCG — +12.2% (March -11.0%)
• Bank — +9.1% (March -16.9%)
• PSU Bank — +7.7% (March -19.8%)
• Pharma — +4.7% (March -3.1%)
• IT — +1.0% (March -5.0%)
Note this: Pharma and IT — which fell the least in March — bounced the least in April. The strength of the rebound was tied to the depth of the fall, not to any fundamental.
This is important: PSU Bank fell -19.8% in March and bounced +7.7% in April. Remember the maths of recovery — to get back to the same place after -19.8%, it needed +24.7%, not +7.7%. A rebound looks big, but it takes far more to fill a deep fall completely.
India VIX closed at 18.46, down from a high of 25.52 — fear eased, but not back to the level from before March.
All figures in this article are computed from The Retail Trader's own daily index database, up to 24 July 2026. Past performance is no indication of the future, and this analysis is for education only — it is not a buy or sell recommendation.