Nifty below 24k, Sensex down 583 pts amid rising crude prices

The domestic share market ended on a week note on Thursday weighed down by rising geopolitical tensions and a rise in Brent crude prices to historic levels.At close, the Sensex was down 582.86 points or 0.75 percent at 76,913.50, and the Nifty was down 180.1 points or 0.74 percent at 23,997.55.
Bajaj Auto, Sun Pharma, Infosys, Tech Mahindra, Bajaj Finance were the top gainers on the Nifty, while losers included Tata Motors Passenger Vehicles, Hindalco Industries, Eternal, HUL, Axis Bank.On the sectoral front,except IT, all other sectoral indices ended in the red with Metal index declined 2%, while PSU Bank, Private Bank, Consumer Durables, Realty down 1% each.In the broader market, the Nifty midcap index shed 1 percent and smallcap index fell 0.5 percent.
The market will remain shut on May 1 on account of Maharashtra Day.
Rupee Close:
On 30 April 26 the Indian rupee was down 0.06% to close at 94.92 against the US dollar on Thursday, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,global sentiment deteriorated sharply as US–Iran tensions escalated and major maritime shipping routes faced continued disruption. Brent crude crossed the $120 per barrel mark for the first time in four years, intensifying inflation concerns and pressuring global risk assets. In India, rising oil prices weighed on the INR and revived worries about capital outflows and widening deficits, given the economy’s heavy reliance on crude imports.The Fed kept rates unchanged but maintained a firm policy stance, supporting the dollar and tightening conditions for emerging markets. Domestically, autos, banks, metals, and real estate led the decline, while IT and pharma saw selective defensive buying. A mild recovery toward the end of the session offered limited respite, and overall sentiment remained cautious ahead of the extended holiday weekend.
Market experts recommended five shares to buy on Thursday, Bharti Airtel, Mazagon Dock Shipbuilders, CreditAccess Grameen, PVR INOX, and ITC.

(Business Correspondent)