Weekly Wrap: NIFTY50 lost 0.7%, SENSEX down 750 points this week; Axis Bank, Shriram Finance among top losers

The benchmark NIFTY50 lost 0.73% or 175 points this week, closing at 23,997.55 points, while the BSE SENSEX lost 1% or 750 points, closing at 76,913.50 points as of the week ended Thursday, April 30.

Investors had a stock-specific approach this week, trading based on multiple Q4 earnings releases at the start, but the dynamic developments on the US-Iran conflict front in West Asia soon turned the sentiment cautious as foreign investors resumed their selling streak of domestic equities.

The Indian stock markets will remain closed for all trading operations on Friday, May 1, 2026, on account of the Maharashtra Day scheduled public holiday. The markets will re-open for regular trading operations next week on Monday, May 4, according to the official NSE holiday list.

Market recap April 30

After opening lower on Thursday, April 30, the benchmark indices were subject to significant selling pressure in the market due to the weak global cues, elevated prices of crude oil and a weaker Indian rupee rate against the US dollar.

The markets recovered to an extent in the afternoon trading hours after witnessing high volatility throughout the day. NSE data showed that NIFTY50 index closed 0.74% lower at 23,997.55 points after Thursday’s market session, compared to 24,177.65 points at the previous stock market close.

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

Major sector indices like the Nifty Bank, Nifty Auto, Nifty Metal, Nifty FMCG, among others, ended lower after the intraday trading apart from the Nifty IT and Nifty Pharma indices on Thursday, April 30.

Factors driving markets this week

This week, the market sentiment remained cautious as the investors focused their attention on the corporate earnings season amid weak cues from the global financial markets, as hopes fade of a potential peace deal between Iran and the United States in the near-term.

Latest media reports suggest that the US President Donald Trump is expected to hold another meeting with his top officials to receive updates on the military options for Iran as both continue attempts at negotiating a peace deal.

NSE data showed that foreign investors sold ₹8,047.86 crore worth of assets from the capital markets segment, while domestic investors were net buyers, purchasing a total of ₹3,487.10 crore across the exchanges in a single day.

Investors were also exercising caution as reports suggested that the United States is also potentially looking to extend the US blockade at the Strait of Hormuz, amid the ongoing ceasefire. This update was a significant driver for the oil prices in the market.

Global benchmark crude oil prices surged to near $125 per barrel (bbl) on Thursday’s trading session, compared to $118 per bbl levels at the previous market close, according to the commodity exchange data.

Higher oil prices in the market further weighed down the sentiment of the domestic equity markets and also had a ripple effect on the Indian currency amid a higher US dollar demand among global investors.

Indian rupee dropped to a fresh record low of 95.322 against the US dollar during Thursday’s trading session, with the higher US greenback demand in the market. Traders tend to sell emerging market assets and pull money out, shifting towards safe-haven bets.

All eyes now remain on any potential relief or signals over the weekend related to a peace deal or easing signals between the two nations at war.

Top gainers & losers this week

Sun Pharmaceuticals, Coal India, Reliance Industries, Adani Enterprises, and Oil & Natural Gas Corporation (ONGC) were the top five gainers among others on the benchmark NIFTY50 index this week.

Sun Pharma shares gained 7.6%, Coal India shares surged 6.8%, Reliance Industries shares rose 6.5%, Adani Enterprises gained 4.7%, and ONGC shares were up 4.6% in the week ended Thursday, April 30.

Stocks such as Axis Bank, Shriram Finance, ICICI Bank, HCL Technologies, and InterGlobe Aviation (IndiGo) were the top five losers on the NIFTY50 index this week.

Axis Bank shares lost 7.4%, Shriram Finance shares lost 7.1%, ICICI Bank shares lost 6.3%, HCL Tech shares dropped 6.1%, and IndiGo shares lost 5.7% in the week ended Thursday, April 30, as per the stock exchange data from NSE.

Top moving sectors this week

On a weekly basis, sectoral benchmark indices like Nifty Oil & Gas, Nifty Energy, and Nifty Pharma were among the top gainers in the week ended on Thursday, While others like Nifty Bank, Nifty IT, and Nifty Financial Services were among the top losers this week.

NSE data showed that the Nifty Oil & Gas gained 2.5% this week, Nifty Energy gained 1.9%, and Nifty Pharma rose 1.2%. Other sectoral indices like Nifty Realty, Nifty Metal, and Nifty Auto were among the gainers.

Others like Nifty Bank lost 2.6%, Nifty IT lost 2.6%, and Nifty Financial Services was down 2.2% as of the week ended April 30. Nifty PSU Bank, Nifty Housing, Nifty Media, and Nifty India Defence were among other losers this week.

Nifty India VIX, the country’s volatility index, witnessed a 0.7% drop on a weekly basis as of the stock market close on Thursday. However, due to the selling pressure in the market, the India VIX was up nearly 6% in a single day on April 30.

Midcap stocks this week

The midcap benchmark, Nifty Midcap 100 index, was down 0.3% this week, closing 0.98% lower at 59,784.85 points after Thursday’s market session, compared to 60,376.90 points at the previous market close, according to NSE data.

Stocks like Oracle Financial Services Software (OFSS) up 10.6%, Cochin Shipyard up 8.8%, Housing & Urban Development Corporations (HUDCO) up 8%, Radico Khaitan up 7%, and Vodafone Idea up 6.7%, were among the top gainers on the midcap index this week.

Other stocks, such as National Aluminium Co. lost 9.1%, Waaree Energies lost 8.6%, Swiggy lost 7.8%, Bank of India lost 7.3%, and Indian Bank lost 6.9% as of the week ended Thursday, April 30.

Smallcap stocks this week

NSE’s smallcap benchmark, Nifty Smallcap 100 index, has gained 1.6% this week, closing 0.48% lower at 18,007.15 points after Thursday’s market session, compared to 18,093.15 points at the previous market close, NSE data showed.

Cohance Lifesciences gained 32.8%, Inventurus Knowledge Solutions gained 15.3%, Bandhan Bank gained 14.8%, Tata Chemicals gained 14.3%, and Himadri Speciality Chemicals surged 13.3% in the past one week.

While other stocks like Mangalore Refinery and Petrochemicals down 10.4%, Zensar Technologies down 9.2%, Kfin Technologies down 8.8%, Kaynes Technology 7.8%, and Firstsource Solutions down 4.9% were among the top losers on a weekly basis as of the week ended Thursday, April 30.