SENSEX drops over 500 points; NIFTY50 ends at 23,997 amid wider market selloff pressure

The NIFTY50 index ended 0.74% lower at 23,997.55 points after Thursday’s market session, compared to 24,177.65 points at the previous trading close, according to NSE data. The index was experiencing high volatility during the intraday trading session, with a certain level of recovery in the afternoon market hours on April 30.

The BSE SENSEX closed 0.75% or 582 points lower at 76,913.50 points after Thursday’s session, compared to 77,496 points at the previous market close, according to the exchange data.

The higher crude oil prices near $125 per barrel on April 30 weighed down on the investors' sentiment on Thursday’s market. The oil prices were trading higher on investor concerns after reports emerged on a potential extension of the US blockade in the Strait of Hormuz.

The benchmark indices were further pressured down by the Indian rupee dropping to a fresh record low of 95.322 against the US dollar during the morning hours on Thursday. The rising oil prices, along with the geopolitical risks and supply chain issues, were driving the sentiment of the market.

All the major indices like the Nifty Bank, Nifty Auto, Nifty Metal, Nifty FMCG, among others, closed lower apart from the Nifty IT and Nifty Pharma indices on April 30.

Top gainers & losers

Tata Motors PV, Eternal, Hindustan Unilever, Hindalco Industries, and Axis Bank were among the other top losers as of the stock market close on Thursday, April 30.

Tata Motors PV shares lost 3.2%, Eternal was down 2.8%, Hindustan Unilever lost 2.7%, Hindalco Industries dropped 2.7%, and Axis Bank lost 2.2% as of Thursday’s stock market close.

Among the top gainers were Bajaj Auto, Sun Pharmaceuticals, Infosys, Tech Mahindra, and Bajaj Finance, according to the NSE data.

Shares of Bajaj Auto gained 4.7%, Sun Pharmaceuticals was up 1.7%, Infosys was up 1.2%, Tech Mahindra was up 0.9%, and Bajaj Finance closed 0.8% higher after Thursday’s stock market session.