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Benchmarks slide as crude climbs, Sensex sheds 583 pts, Nifty below 24K
Equity benchmark indices tumbled on Thursday as surging crude oil prices, weak Asian cues and relentless foreign fund outflows battered investor sentiment. The Nifty slipped below the 24,000 mark, weighed down by banking stocks. Most sectoral indices ended in the red, with the Nifty IT index bucking the trend. Brent crude climbed to around $120 per barrel amid rising fears of supply disruptions linked to potential curbs on Irans ports, fuelling inflation concerns in India. Global markets offered little support, pressured by elevated energy prices and uncertainty over the Federal Reserves policy stance. Meanwhile, a sharp slide in the rupee to a record low added to the strain on domestic equities.
Where to invest now: SBI MF prefers large caps, pharma, PSU banks
Ruchit Mehta, Head of Research at SBI Mutual Fund, prefers CDMO and hospital plays within pharma, citing stronger growth prospects over generics. He sees large caps as attractive on valuations, while midcaps require selectivity amid earnings risks. PSU banks may outperform in the near term due to stronger loan growth, but asset quality risks could emerge over the next 2–3 quarters if global disruptions persist.
Sensex dives 850 pts, Nifty slips below 24,200 amid oil shock and weak global cues
The equity benchmark indices Sensex and Nifty tumbled on Thursday, extending losses for a second straight session. Firm crude oil prices and ongoing geopolitical tensions rattled sentiment. Brent crude surged for the fourth consecutive day to around $103 per barrel amid uncertainty over US-Iran talks and fresh concerns around the Strait of Hormuz. Weak Asian cues and persistent foreign fund outflows deepened the sell-off. The Nifty slipped below the 24,200 mark, dragged by auto, PSU banks and consumer durables stocks, while pharma and healthcare shares saw selective buying. Investors stayed cautious, closely tracking the ongoing Q4 earnings season for further triggers.
Trent, L&T to HDFC Bank: How are the worst-performing Nifty 50 stocks of last month faring in April?
Earlier this month, DSP Mutual Fund in its strategy report said that it is shifting from a conservative to a constructive view on the Indian stock market, as the correction has brought valuations closer to long-term averages.
Trent, L&T to HDFC Bank: How are the worst-performing Nifty 50 stocks of last month faring in April? - Mint
Trent, L&T to HDFC Bank: How are the worst-performing Nifty 50 stocks of last month faring in April?Mint
Top Gainers & Losers on April 23: Union Bank, Trent, Havells, Ashok Leyland, OLA, Canara Bank among top losers
The Indian stock market faced significant declines on April 23 due to rising geopolitical tensions and high crude oil prices. The Nifty 50 fell 0.86%, while the S&P BSE Sensex dropped 1.12%. Sectoral losses were led by Nifty Auto, which fell 2.28%.
Stock market crash: Will the Nifty 50 sustain above 24K? These three bank stocks hold key
On April 22, Indian stock markets fell sharply, with the Sensex losing 831 points and Nifty 50 dropping 224 points. The decline was driven by IT and banking sectors amid global uncertainties, including the U.S.–Iran conflict and fluctuating crude oil prices, causing cautious investor sentiment.
Life insurers see double-digit premium growth in March; retail business performance varies
Life insurers report strong March premium growth, with Axis Max, ICICI Prudential and LIC showing gains but mixed trends in retail APE performance.
Raymond James strategist: ICICI Bank, HDFC Bank resilient; backs commodities, gold
Matt Orton, Chief Market Strategist at Raymond James explains the global market rebound, highlights AI-driven earnings strength, outlines India’s outlook amid energy pressures, and makes a case for a commodity supercycle with 5% gold allocation.
ICICI Bank top pick, Jio Financial a long-term bet, Ultratech a good hold: Chola Securities
Dharmesh Kant, Head of Research, Chola Securities, said private banks show stable fundamentals, supported by improving cost metrics and growth visibility. He highlighted that emerging financial platforms need time to scale despite strong backing. Kant added that cement demand remains supported by macro trends, with leading players maintaining pricing control and capacity expansion, offering visibility for medium-term growth across the sector. Disclaimer: The views and tips expressed by investment experts on CNBCTV18.com are their own, not of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
India can handle oil at current levels; financials may recover: Allspring’s Prashant Paroda
As geopolitical tensions around the Strait of Hormuz show signs of easing, Prashant Paroda, Portfolio Manager – Emerging Markets at Allspring Global Investments, believes markets are already factoring in a resolution. He adds that while Indian financials initially took a hit, recent earnings from HDFC Bank and ICICI Bank are in line with expectations, and stable loan growth could support a gradual recovery in the sector.
Retail flows stay resilient as MF AUM falls 10.1% MoM in March: Motilal Oswal
Equity mutual fund inflows hit a 17 month high in March 2026 despite a 10.1 percent drop in total AUM as markets corrected, SIP contributions and retail participation stayed strong