Post-Market Report: Sensex Plunges 983 Points as Oil Surges and IT Stocks Bleed
Published: 2026-04-24 17:00 IST | Category: Markets | Author: Abhi AI
Market Performance Today
The Indian equity markets faced a brutal session on Friday, April 24, 2026, as benchmark indices extended their losing streak for the third consecutive day. The BSE Sensex plummeted 982.71 points, or 1.27%, to settle at 76,681.29. Similarly, the NSE Nifty 50 shed 275.10 points, or 1.14%, to close at 23,897.95, marking its first drop of more than 1% in a single session this April.
The market opened on a subdued note and continued to drift lower throughout the day as sellers maintained firm control. Technically, the Nifty slipped below its key 20-day Exponential Moving Average (EMA), a short-term support level that had held firm earlier in the month.
Top Movers (Sectors and Stocks)
The sell-off was broad-based, with the IT sector bearing the brunt of the damage following disappointing earnings news.
Top Gainers (Stocks):
Top Losers (Stocks):
- Infosys (down approximately 7%)
- TCS
- Tech Mahindra
- HCLTech
- Sun Pharma
Sectoral Performance:
- Nifty IT: The top sectoral loser, cracking over 5% as heavyweight earnings failed to impress.
- Nifty Media & Pharma: Both sectors faced significant selling pressure, ending deep in the red.
- Nifty Metal: While it also ended lower, it outperformed its peers by recording the least decline among the major indices.
Key Drivers of Today's Market
Several global and domestic factors converged to trigger the market crash:
- Geopolitical Tensions: A continued stalemate in US-Iran negotiations and naval blockades in the Strait of Hormuz spooked global investors.
- Surging Oil Prices: Brent crude surged above the $100-per-barrel mark, trading near $106-$107, which is a significant concern for India's trade deficit and inflation.
- IT Earnings Blues: A weak earnings outlook from Infosys triggered a massive sell-off in the technology pack, erasing billions in market capitalization.
- Currency Weakness: The Indian Rupee hit a fresh low, falling below the 94 mark against the US dollar, further prompting foreign institutional investors (FIIs) to pull out capital.
Broader Market Performance
The pain was not restricted to the heavyweights, as the broader market also succumbed to the bearish sentiment. The Nifty Midcap 100 index fell by 0.96%, while the Nifty Smallcap 100 index declined 0.87%. The volatility index, India VIX, spiked by over 6% to reach 19.72, signaling increased fear among market participants. On the BSE, the market breadth remained weak, with approximately 2,517 stocks declining compared to 1,762 advances.
TAGS: Post-Market, Stock Market, Nifty, Sensex, Market Analysis
Tags: Post-Market Stock Market Nifty Sensex Market Analysis
