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Indian equities suffered a brutal second day of losses on Friday, April 24, 2026, as the NSE Nifty 50 slid below the 24,000 mark and the BSE Sensex plummeted nearly 1,000 points. Market sentiment was hammered by a fresh spike in Brent crude to $107.24 following the seizure of vessels by Iran in the Strait of Hormuz and the subsequent stalling of US-Iran diplomatic talks. While Nifty Pharma provided a defensive sanctuary—bolstered by Cipla’s 5.7% rally—heavyweights in the Auto and Banking sectors dragged the benchmarks to nearly 10% below their 52-week highs. With FII outflows intensifying and the RBI warning of “second-round” inflationary effects from West Asia, traders remain on edge for any signs of geopolitical de-escalation.

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