Stock Market Today: Sensex & Nifty Crash as Geopolitical Tensions Mount

April 23, 2026

Indian Stock Market Today | The Indian equity market witnessed a brutal selloff for the second consecutive session on Thursday, April 23, 2026.

Bearish sentiment dominated Dalal Street as the BSE Sensex plummeted 852 points to close at 77,664, while the Nifty 50 shed over 200 points to settle at 24,173.05.

In just two trading days, the Sensex has fallen 1,609 points, reflecting a nearly 2% decline.

Why is the Indian Stock Market Falling?

• Banking & Financial Drag: The heavy-weight banking sector led the decline. The Nifty PSU Bank index crashed 2.19%, while the Private Bank and Financial Services indices shed over 1% each.
• Nifty Auto: The index fell 2.35%, emerging as one of the hardest-hit segments during the session.
• Geopolitical Friction: Rising uncertainty regarding the US-Iran conflict spooked investors. Reports of ship seizures in the Strait of Hormuz and the failure of peace talks in Pakistan have heightened fears of a regional escalation.
• FII Selling Pressure: After a brief buying spell, Foreign Institutional Investors (FIIs) have returned to a "sell-on-rise" strategy in the cash segment.
• Currency Weakness: The Indian Rupee (INR) hit a significant psychological level, weakening past 94 per US Dollar to close at 94.20, marking its fourth straight day of losses.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 175.75 points lower at 24,202.35, reached a high of 24,310.20 and closed at 24,173.05.

The index formed a small-bodied bearish candle with a long upper shadow, indicating selling pressure at higher levels.

• Immediate Support: 24,100
• Immediate Resistance: 24,250

BANK NIFTY: Opened 515.50 points lower at 56,608.95, reached a high of 56,868.70 and closed at 56,305.

The index formed a bearish candle with an upper shadow, indicating selling pressure at higher levels.

• Immediate Support: 56,000
• Immediate Resistance: 56,600

Market Analysis: Key Nifty Indices

Sector Performance

Nifty Top Gainers & Losers

Top Trending Stocks Today

• Oracle Financial Services: Stock surged over 8% after a strong Q4 performance, with net profit rising 31% YoY to ₹841.7 crore and revenue climbing 20% YoY to ₹2,065.2 crore.
• Jio Financial Services: Stock gained more than 4% after announcing a 50:50 joint venture with Allianz Group to enter the general and health insurance space.
• Union Bank of India: Stock plunged over 7% following a weaker-than-expected Q4, with net interest income slipping 1% to ₹9,406 crore, even as net profit rose 7% YoY to ₹5,316 crore, indicating margin pressure.

Global Macro & Commodity Update

• Asian Markets: Ended mostly lower as rising crude oil prices and escalating tensions between US and Iran weighed on investor sentiment.
• European Markets: Traded cautiously amid weakening economic indicators, with Eurozone PMI slipping below 50, signalling contraction due to rising input costs and geopolitical uncertainty.
• Crude Oil Prices: Crossed $103 a barrel as both Iran and US maintained restrictions impacting trade flows through the Strait of Hormuz, raising supply concerns.
• Gold Prices: Declined as higher oil prices intensified inflation concerns and the likelihood of prolonged elevated interest rates, while markets awaited clarity on stalled US-Iran peace talks.

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