Sensex Crashes 943 pts, Nifty Drops 265 pts at Midday; IT Bears Brunt

Mumbai, April 24: Indian stocks extended their losing ways on Friday with the benchmark BSE Sensex trading 943.47 points or 1.21% lower at 76,720.53 and Nifty 50 down 265.25 points or 1.10% at 23,907.80 at the midday trading session — both erased the gains of past sessions — after the US-Iran tensions rose further overnight, global oil prices jumped to over $106 a barrel and IT stocks continued to underperform on weak global cues for the tech sector. The selloff has now wiped out thousands of crores in market capitalisation over two sessions, with no meaningful support emerging from either global or domestic cues.

Stocks in Gains

The following stocks were in the green at the time of publishing:

Coal India (+) 1.03%

Coal India ended ₹455.30, higher from its previous close of ₹450.65. The scrip traded with a high of ₹462 and low of ₹451.05 intraday. PSU energy stocks continue to remain in focus as higher crude prices augur well for corporate earnings.

Bajaj Auto (+) 0.75%

Bajaj Auto closed last at ₹9,622 as compared to its previous close of ₹9,550.50. The high and low of the stock were ₹9,663 and ₹9,545.50 respectively.

Eicher Motors (+) 0.55%

Eicher Motors ended last at ₹7,131.50 compared to its previous close at ₹7,092.50. The scrip traded with a high of ₹7,160 and low of ₹7,049 intraday.

Grasim Industries (+) 0.55%

Grasim Industries ended at ₹2,750 compared to its previous close of ₹2,735. The high and low of the stock were ₹2,768.90 and ₹2,742 respectively.

HDFC Bank (+) 0.10%

HDFC Bank closed last at ₹785.10 as compared to ₹784.35. The bank stock traded between ₹787.60 and ₹777 intraday.

Stocks in Losses

The following stocks were in the red at the time of publishing:

Infosys (-) 5.83%

Infosys ended ₹1,168.30, lower from its previous close of ₹1,240.60. The scrip traded with a high of ₹1,223.90 and a low of ₹1,167.70 intraday. The IT major saw more than 2.26 crore shares changing hands.

Tech Mahindra (-) 4.71%

Tech Mahindra closed last at ₹1,354.50 as compared to ₹1,421.50. The scrip traded with a high of ₹1,426.70 and a low of ₹1,354.

TCS (-) 4.39%

TCS ended ₹2,411.10 lower from its previous close of ₹2,521.80. Shares of the IT giant traded between ₹2,406 and ₹2,505 intraday.

Sun Pharma (-) 3.61%

Sun Pharma closed at ₹1,619.40 compared to ₹1,680.10. The high and low of the stock were ₹1,673.30 and ₹1,616.70 respectively.

HCL Technologies (-) 3.59%

HCL Technologies ended ₹1,208.60 lower from its previous close of ₹1,277.60. The scrip traded with a high of ₹1,277.60 and a low of ₹1,208.10 intraday.

Middle East Conflict

Iran tightened its stranglehold on the Strait of Hormuz on Thursday, releasing a video of commandos storming a cargo ship in a show of force — though President Trump dismissed the threat posed by Iran’s ships and said he was in no hurry for a deal, while adding he would resolve it militarily if Iran refused. Israel’s Defence Minister said Israel was waiting for a US green light to resume the war, while Tehran maintained it would not consider opening the strait until Washington lifted its sea blockade. Trump has indefinitely extended the fragile two-week ceasefire to allow for peace talks, but no concrete plans have emerged and the situation remains on a knife’s edge.

Oil Advances Further

Crude prices continued to surge today with Brent futures hitting $106 per barrel while WTI futures crossed $96 per barrel. Both benchmarks rose around 2% each to reach multi-year highs as geopolitical tensions continued to escalate between Iran and the US. Iran activated its air defence system on Thursday and seized a commercial ship in the Strait of Hormuz shipping lane. While Iran accounts for less than 5% of global oil production, around a fifth of all internationally traded oil passes through the Strait of Hormuz, which links major oil producers in the Middle East with global markets.

Sources: 

• https://www.nseindia.com/market-data/top-gainers-losers
• https://www.nseindia.com/market-data/live-market-indices
• https://www.bseindia.com/index.html
• https://www.reuters.com/world/asia-pacific/global-markets-global-markets-2026-04-24/
• https://apnews.com/article/us-iran-war-hormuz-israel-pakistan-ceasefire-april-23-2026-368b922ae2f4c874df8a133491eeffe8