The headline equity indices opened Thursday's session with sharp losses, with the Nifty slipping below the 23,900 level. All sectoral indices on the NSE began in the red, led by declines in auto, realty, and private banking stocks.
At 09:30 IST, the barometer index, the S&P BSE Sensex tanked 937.57 points or 1.13% to 76,621.79. The Nifty 50 index tumbled 301.80 points or 1.25% to 23,875.85.
In the broader market, the BSE 150 MidCap Index dropped 1.19% and the BSE 250 SmallCap Index fell 0.74%.
The market breadth was weak. On the BSE, 952 shares rose and 2,059 shares fell. A total of 154 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.04% to 18.32.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,468.42 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,262.17 crore in the Indian equity market on 29 April 2026, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.99% to 7.064 compared with previous session close of 6.995.
In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.1400 compared with its close of 94.8800 during the previous trading session.
MCX Gold futures for 5 June 2026 settlement rose 0.21% to Rs 149,384.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 98.86.
The United States 10-year bond yield rose 0.20% to 4.427.
In the commodities market, Brent crude for June 2026 settlement jumped $2.58 or 2.34% to $113.02 a barrel.
Stocks in Spotlight:
Force Motors slipped 3.63% after reporting a 35.93% year-on-year decline in consolidated net profit to Rs 278.52 crore in Q4 FY26, compared with Rs 434.71 crore in the corresponding quarter last year. Revenue from operations rose 8.23% to Rs 2,549.84 crore in Q4 FY26 as against Rs 2,356.01 crore in Q4 FY25.
Bajaj Finance rallied 3.10% after the company reported a 21.99% rise in consolidated net profit to Rs 5,464.57 crore on an 18.1% jump in total revenue from operations to Rs 21,605.79 crore in Q4 FY26 over Q4 FY25. Meanwhile, the company announced that Rajiv Bajaj will step down from the board and will not seek re-election at the AGM scheduled on 30 July 2026 and will cease to be a non-executive director upon the conclusion of the AGM.
Adani Power (APL) added 0.09%. The company reported a 64.33% surge in consolidated net profit to Rs 4,271.40 crore in Q4 FY26 as compared to Rs 2,599.23 crore recorded in Q4 FY25. Revenue from operations remained largely flat at Rs 14,223.09 crore in the quarter ended 31 March 2026, compared with Rs 14,237.40 crore in the corresponding quarter last year.
Global Market:
Asian markets mostly fell on Thursday, tracking overnight losses in key Wall Street benchmarks as oil prices extended gains amid a U.S. blockade of Iranian ports, while the Federal Reserve held interest rates steady.
Oil climbed after a media report stated President Donald Trump had told aides to prepare for an extended blockade of Iran.
Prices extended gains after another media article said that Trump rejected Iran's proposal to reopen the Strait of Hormuz, signaling the U.S. naval blockade will remain until a deal addressing Tehran's nuclear program is reached.
Brent crude rose about 1.96% to around $120 a barrel, while U.S. West Texas Intermediate added 0.2% to $107.09.
Overnight on Wall Street, the Dow Jones Industrial Average ended Wednesday lower as oil prices continued their rally amid a U.S. blockade of Iranian ports and after the Federal Reserve left its key interest rate unchanged.
The 30-stock index fell 280.12 points, or 0.57%, to close at 48,861.81 and notch a fifth straight losing day. The S&P 500 inched down 0.04% to close at 7,135.95, while the Nasdaq Composite crept up 0.04% to 24,673.24.
Elevated oil prices will push up overall inflation' in the near term, Fed Chair Jerome Powell said during a press conference following the conclusion of the April Fed policy meeting.
At its latest meet, the Federal Open Market Committee voted 8-4 to hold rates in a range of 3.5% to 3.75%. That marked the first time four FOMC members dissented since October 1992. To be sure, members expressed different reasons for their vote.
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