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Market News

Stock market crash: HCL Tech and 25 other stocks hit 52-week low; 65 locked at lower circuit, including Sterlite Tech

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By Sreenivas Ajankar

3 min read | Updated on April 30, 2026, 13:17 IST

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SUMMARY

NIFTY50 and SENSEX saw a sharp decline today as a rise in Brent Crude oil prices and a record fall in the Indian rupee impacted investors' sentiment. HCL Technologies, Zensar Technologies, VIP Industries hit a 52-week low today on NSE, while Fujiyama Power Systems, Sterlite Technologies and others were at a lower circuit.

Stock list

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HCL_Tech_at_52-week_low

Brent Crude oil saw a sharp rise to as high as $114 per barrel due to escalating tension between the US and Iran.

NIFTY50 and SENSEX saw a sharp sell-off on Friday, April 30, reversing all the gains witnessed in the past few trading sessions. The benchmark indices declined sharply amid rising crude oil prices, fall in Indian rupee to record low and rising geopolitical concerns between the US and Iran.

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As of 12:00 pm, the NIFTY50 index is trading 325 points or 1.3% lower at 23,858 with a day low of 23,796. Meanwhile, BSE SENSEX is down 1,050 points or 1.3% lower at 76,437. SENSEX hit a day low of 76,258 today. Among the NIFTY50 stocks, around 42 are trading in the red with Eternal (-3.6%), Tata Motors PV (-3.6%) and IndiGO (-3.1%) being the top losers.

Amid this substantial fall, investors witnessed over ₹9 lakh crore of cumulative market cap loss. BSE-listed stocks market cap dropped to ₹460 lakh crore from ₹469 lakh crore in the previous session.

Why are stock markets down today?

Indian Rupee falls to new record low: Indian rupee opened sharply lower today, falling 32 paise to hit a fresh low of 95.20 against the US dollar. Rupee fall comes mainly due to sustained FII outflows and elevated crude prices which kept pressure on the domestic currency. Besides this, US Federal Reserve's hawkish commentary on the interest rate supported the US dollar index and triggered a further fall in the rupee. In recent months, the Indian rupee has hit multiple record lows against the dollar, making imported goods like crude oil costlier for consumption and indirectly leading to higher domestic inflation.
Oil prices surge again: Brent Crude oil prices saw a sharp rise to as high as $114 per barrel, mainly due to escalating tension between the US and Iran. The US continues to maintain a naval blockade at Iranian ports, while Iran has closed the Strait of Hormuz for global tankers as peace talks between the two countries continue to be delayed. As a result, oil prices are trading higher, which is negative for the Indian economy, which is highly dependent on crude oil imports.

Broader market indices like NIFTY Midcap100 (-1.3%) and NIFTY Smallcap100 (-0.7%) are also trading lower. More than 26 stocks hit their 52-week low today as investors did profit booking amid weak market sentiments, while 65 stocks hit their lower circuit on NSE.

The volatility index, or India VIX, is up 7.1% to 18.67. Except for the NIFTY IT index (+0.2%), all the sectoral indices are trading red with NIFTY Metal (-2.0%), NIFTY Auto (-1.8%) and NIFTY PSU Bank (-1.7%) among the top sectoral losers.

Prominent stocks at 52-week low today

Stock52-week low1-year return*
HCL Technologies₹1,184-23.22%
Zensar Technologies₹510.8-28.42%
VIP Industries₹292.05-3.92%
Wakefit Innovations₹135.5-
Agarwal Industrial Corporation₹360.00-57.38%
Elitecon International₹36.20-

Prominent stocks at lower circuit today

Stocklower circuit1-year return*
Unimech Aerospace₹1,002.1 (5%)+10.2%
Websol Energy System₹110.2 (5%)-15.76%
Fujiyama Power Systems₹285.1 (5%)-
Sterlite Technologies₹283.3 (5%)+366.8%
Systematix Corporate Services₹70.59 (5%)-

About The Author

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Sreenivas Ajankar is a Deputy Editor at Upstox and has over nine years of experience in capital markets. His areas of expertise include equity research, analysis and business valuation.

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