Market performance
Indian equity markets declined sharply on April 24, 2026, marking the third consecutive session of losses. The Sensex dropped nearly 1,000 points, while the Nifty fell below the 23,900 level.
The sell-off was driven by rising tensions between the US and Iran, along with a sharp increase in crude oil prices. Weakness in key sectors and continued foreign investor selling also weighed on sentiment.
Index performance
Sensex fell 982.71 points (-1.27%) to close at 76,681.29.
Nifty 50 declined 275.10 points (-1.14%) to 23,897.95.
Nifty Bank dropped 215.25 points (-0.38%) to 56,089.75.
Nifty IT plunged 1,593.70 points (-5.29%) to 28,530.60.
Broader markets also ended lower.
Nifty Midcap declined 578.00 points (-0.96%) to 59,374.80.
Nifty Smallcap fell 47.05 points (-0.54%) to 8,586.10.
What drove the market move?
Escalation in geopolitical tensions
Ongoing developments in West Asia, including concerns around the Strait of Hormuz, kept markets under pressure.
Surge in crude oil prices
Brent crude rose above $106 per barrel, increasing concerns around inflation and economic impact.
Weak IT sector performance
IT stocks declined sharply following weak earnings and cautious outlook from major companies.
FII selling pressure
Foreign institutional investors continued to sell equities, adding to the downward pressure.
Sectoral performance
All major sectoral indices ended in the red.
IT stocks were the worst performers, seeing sharp declines.
Broad-based selling was visible across sectors.
Commodities and Currency
Gold (MCX) declined to ₹1,51,533, down ₹228 (-0.15%) (as of 4 pm).
Silver (MCX) fell to ₹2,40,383, dropping ₹1,130 (-0.47%) (as of 4 pm).
Brent crude traded above $106 per barrel.
The Indian Rupee weakened to around 94.29 per dollar.
Volatility index
Market volatility increased. India VIX rose by 1.12 points (6.04%) to 19.71, indicating rising uncertainty.
Market takeaway
Friday’s sharp decline reflects continued pressure from global developments and rising crude oil prices. Weak sectoral performance and foreign investor outflows added to the negative sentiment.
Markets will continue to track geopolitical developments, crude oil prices and earnings trends for further direction.
Source: Moneycontrol, Business Standard, Google Finance
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