Stock Market Today LIVE Updates (April 24): Sensex Falls By 120 Pts, Nifty Slips Below 24,200 At Opening; Gold, Silver Under Pressure
Stock/Share Market LIVE Updates: Markets opened lower on Friday, April 24, with Nifty around 24,100 in weak global cues; midcap index traded in the green.
Major losers on the Nifty included Infosys, Dr. Reddy’s, TCS, HCLTech, and Tech Mahindra.
At 9:40 AM, the Nifty50 was trading at 23,999, down 0.71%, while the BSE Sensex was at 77,016.65, down 0.85%.
Volatility is likely to stay high in the short term, with uncertainty over US-Iran talks continuing to weigh on sentiment, experts say. Energy markets remain on edge, and oil prices are firm as tensions in the Strait of Hormuz continue to boil. Shipping activity has been limited.
Geopolitical risks remain unaddressed, and pressure on crude prices is likely to persist. This could keep the rupee under stress and limit the foreign institutional inflows, keeping the risk appetite subdued in the near term unless there is a clear de-escalation.
Gold and silver prices declined on the MCX in early trade on Friday, mirroring weakness in global bullion markets. The fall comes amid a stronger US dollar and higher crude oil prices, though sentiment remains clouded by uncertainty over the US-Iran situation.
MCX gold for June delivery was down 0.32% to ₹1,51,280 per 10 grams and silver for May delivery fell 0.37% to ₹2,40,610 a kg at around 9:30 am.
The Reserve Bank of India (RBI) has approved the reappointment of Vasudevan P.N. as Managing Director & Chief Executive Officer of Equitas Small Finance Bank for a term of three years.
The regulatory approval ensures continuity of leadership at the small finance bank that continues to operate in a competitive lending space.
On Friday, April 24, Equitas Small Finance Bank shares were trading at ₹66.14, up ₹0.25, or 0.38% on the BSE at around 11:30am. During the session, the stock touched an intraday high of ₹68 and a low of ₹65.90.
Shares of HCL Technologies continued to face selling pressure on Friday, April 24, slipping another 2.58% to ₹1,221.20 in early trade.
The stock has now extended losses for the third straight session, with the scrip falling sharply from recent levels amid sustained profit booking in IT counters. It opened at ₹1,264.40 and hit an intraday low of ₹1,219, staying below its VWAP of ₹1,234.38, indicating continued weak sentiment.
Shares of Infosys came under sharp selling pressure on Friday, April 24, declining nearly 5% in early trade despite a strong set of March quarter earnings. The stock slipped as much as 4.48% to ₹1,185 on the BSE, compared with the previous close of ₹1,240.60.
At around 10:42 AM, the stock was trading near its intraday low of ₹1,185 after opening at ₹1,200 and touching a high of ₹1,223.90 during the session. It also stayed below its VWAP of ₹1,201.11, indicating sustained selling pressure through the day. Read more here
Shares of Adani Energy Solutions came under selling pressure in morning trade, at 10AM, on Friday, falling over 3% to around ₹1,315.
The stock opened at ₹1,359 but saw steady profit booking through the session, slipping close to an intraday low of ₹1,282 on the BSE after the company reported a 6% year-on-year rise in consolidated net profit to ₹684 crore for the March quarter.
It is currently hovering near its intraday VWAP (Volume Weighted Average Price) of ₹1,309, suggesting some support at lower levels, although overall sentiment remains weak.
Birla Corporation has started a coal mining operation in its Bikram Coal Mine in Madhya Pradesh, a significant step in its mining expansion. The company announced the development in a regulatory filing in line with SEBI norms.
Shares of Birla Corporation were trading at ₹931, down 1.19 per cent, at 10 am on April 24. The stock touched an intraday high of ₹960 and a low of ₹929.