Indian Stock Market Crash: Nifty 50, Sensex Plunge 1% as Iran-US Tensions Escalate

April 24, 2026

Indian Stock Market Today | The Indian stock market selloff extended to a third straight session on Friday, 24 April 2026. Benchmarks Sensex and Nifty 50 crashed by over 1% each, wiping out significant investor wealth in a high-volatility environment.

The 30-share Sensex fell 1,000 points to close at 76,664, while the Nifty 50 fell 275 points to settle at 23,898.

Broader markets also remained under pressure, with the Nifty Midcap 100 declining 0.96% and the Nifty Smallcap 100 slipping 0.87%.

Over the last three sessions, the Sensex has plunged 2,609 points (3.3%), while the Nifty 50 has retreated 2.8%.

Why is the Indian Stock Market Falling?

• Geopolitical Conflict: Lack of progress in peace talks between Washington and Tehran has fuelled global uncertainty. Reports of US orders to target Iranian boats in the Strait of Hormuz—a chokepoint for 20% of global petroleum—have sparked fears of supply disruptions.
• Surge in Crude: Oil prices jumped ~18% this week as talks stalled in Pakistan. High energy costs directly impact India’s fiscal deficit and inflation.
• Weak IT Earnings: Mixed Q4 results from IT giants triggered a broad-based exit. Infosys hit a 52-week low, falling nearly 7% following its latest earnings report.

💡 Read deep-dive analysis here: Infosys Share Price Falls After Q4 Results: Should You Buy, Sell or Hold?

• Currency Weakness: The Indian Rupee (INR) weakened further to close at 94.25 against the US Dollar, marking its fifth straight day of losses.
• FII Selling: After buying Indian equities for a few days this month, foreign institutional investors (FIIs) have resumed aggressive selling.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 72.50 points lower at 24,100.55, reached a high of 24,206.00 and closed at 23,897.95.

The index formed a bearish candle with upper and lower shadows, marking the third consecutive lower high and signaling sustained seller control. 

• Immediate Support: 23,700
• Immediate Resistance: 24,050

BANK NIFTY: Opened at 134.80 points lower at 56,170.20, reached a high of 56,460.50 and closed at 56,089.75.

The index formed a small-bodied bearish candle with upper and lower shadows.

• Immediate Support: 55,680
• Immediate Resistance: 56,500

Market Analysis: Key Nifty Indices

Sector Performance

Nifty Top Gainers & Losers

Top Trending Stocks Today

• Himadri Speciality: Stock gained 5.6% after Q4 net profit rose 29% YoY to ₹201 crore, with revenue up 14% YoY to ₹1,287.8 crore.
• Atul Auto: Stock jumped 5.3% after signing an agreement with Exponent Energy Pvt Ltd to manufacture and supply 15,000 electric three-wheelers integrated with its battery system and powertrain.
• UTI AMC: Stock plunged more than 10% in its biggest single-day fall after reporting a Q4 net loss of ₹67 crore, compared to a net profit of ₹121 crore in the previous quarter.

Global Macro & Commodity Update

• Asian Markets: Opened lower as stalled US–Iran talks raised concerns over prolonged tensions, with the Strait of Hormuz effectively remaining shut.
• European Markets: Declined and were set for a weekly loss, as investors priced in growth risks and a potential inflation shock due to disrupted energy supplies.
• Crude Oil Prices: Climbed amid fears of renewed military escalation after Iran released footage of commandos boarding a cargo ship, along with continued blockage of the Strait of Hormuz.
• Gold Prices: Slipped and were headed for their first weekly decline in four weeks, as elevated oil prices and inflation concerns reduced its appeal.

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