Market performance
Indian equity markets declined on April 23, 2026, marking the second consecutive session of losses. The Sensex fell over 800 points, while the Nifty dropped nearly 1%.
The sell-off was driven by a sharp rise in crude oil prices above $100 per barrel, along with continued uncertainty around US–Iran developments. A weaker rupee and selling in key sectors also weighed on sentiment.
Index performance
Sensex fell 852.49 points (-1.09%) to close at 77,664.00.
Nifty 50 declined 205.05 points (-0.84%) to 24,173.05.
Nifty Bank dropped 819.45 points (-1.43%) to 56,305.00.
Nifty IT fell 371.95 points (-1.22%) to 30,124.30.
Broader markets also ended lower.
Nifty Midcap declined 248.80 points (-0.41%) to 59,952.80.
Nifty Smallcap fell 58.25 points (-0.67%) to 8,633.15.
What drove the market move?
Crude oil above $100 per barrel
Brent crude rose above $100 per barrel amid ongoing tensions and supply disruptions linked to the Strait of Hormuz.
Selling in banking and heavyweight stocks
Banking stocks saw notable selling, which impacted the broader indices.
Uncertainty around US–Iran developments
Lack of clarity on the ceasefire and future negotiations kept investors cautious.
FII selling pressure
Foreign institutional investors turned sellers again, offloading over ₹5,000 crore worth of equities in recent sessions.
Sectoral performance
Selling pressure was seen across sectors.
Banking stocks were among the key laggards.
Midcap and smallcap indices also declined during the session.
Commodities and Currency
Gold (MCX) declined to ₹1,51,574, down ₹1,083 (-0.71%) (as of 4 pm).
Silver (MCX) fell to ₹2,39,983, dropping ₹8,381 (-3.37%) (as of 4 pm).
Brent crude traded above $100 per barrel.
The Indian Rupee weakened to 94.11 per dollar.
Volatility index
Market volatility increased. India VIX rose by 0.29 points (1.58%) to 18.59, indicating slightly higher uncertainty.
Market takeaway
Thursday’s decline reflects continued pressure from global developments and rising crude oil prices. Selling in key sectors and foreign investor outflows also impacted sentiment.
Markets will continue to track crude oil movement, geopolitical updates and institutional flows for further direction.
Source: Moneycontrol, Business Standard, Google Finance, Livemint
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