New Delhi, April 2 -- The market struggled to maintain its intraday highs on Wednesday as selling pressure intensified at those elevated levels. However, a positive takeaway was that every dip was met with a recovery, allowing the index to hold onto some of its gains. As the new series begins, the question remains whether the 23,000 level will serve as the critical pivot point for the trend.

Indian equity benchmarks opened FY27 on a strong note, with the Nifty and Sensex rebounding sharply after two consecutive sessions of losses. Optimism over a possible easing of Middle East tensions helped calm fears of rising crude prices and inflation, sparking a broad-based rally across sectors.

The Sensex surged nearly 2,000 points intraday to to...