The domestic stock market experienced significant selling pressure on Thursday, April 30, with benchmark indices crashing over 1% during intraday trading. According to latest reports from Upstox, the NIFTY50 declined 325 points or 1.3% to trade at 23,858 with a day low of 23,796, while the BSE SENSEX fell 1,050 points or 1.3% to 76,437 with a day low of 76,258. The overall market capitalisation of BSE-listed firms dropped by ₹9 lakh crore during the session, with the BSE-listed stocks market cap falling to ₹460 lakh crore from ₹469 lakh crore in the previous session. As per Upstox, around 42 NIFTY50 stocks are trading in the red with Eternal (-3.6%), Tata Motors PV (-3.6%), and IndiGO (-3.1%) being the top losers. The volatility index (India VIX) is up 7.1% to 18.67, reflecting widespread investor pessimism amid the market crash.
Several stocks emerged as the most traded on the NSE based on volume during Thursday's session. As reported by Mint, Vodafone Idea, Suzlon Energy, Meesho, Jaiprakash Power Ventures (JP Power), HFCL, Adani Power, and Vedanta were the most active stocks in terms of volume. Additional stocks including Eternal, Reliance Power, YES Bank, Ola Electric Mobility, Tata Gold Exchange Traded Fund, HCC, Shree Renuka Sugars, Bajaj Hindusthan Sugar, Syngene International, Sammaan Capital, Indiabulls, Tata Silver Exchange Traded Fund, and Cemindia Projects also featured among the most traded stocks on the NSE. According to Upstox, Vedanta, HUL, and Meesho were among the buzzing stocks during the afternoon session, with Vedanta experiencing a steep decline of 63.93% following its demerger ex-date, while Waaree Energies fell 11.16% despite reporting strong Q4 FY26 results.
Vodafone Idea experienced significant trading interest with over 23 crore shares changing hands as the stock declined nearly 3% during the session. According to Mint, the telecom stock was looking set to snap its three-day winning run amid the broader market selloff. Despite the intraday decline, the stock has demonstrated strong performance with a healthy gain of more than 19% in April, indicating sustained investor interest despite current volatility.
Suzlon Energy recorded substantial trading activity with more than 6 crore shares changing hands as the stock declined more than 3% during the session. As reported by Mint, Suzlon shares have experienced stellar gains of 40% in April after suffering losses for the last five consecutive months. This strong monthly performance suggests renewed investor confidence in the renewable energy sector despite the current market weakness.
Meesho emerged as a standout performer with over 6 crore shares changing hands as the stock surged more than 10% despite the broader market selloff. According to Mint, this surge followed JP Morgan's initiation of coverage with an 'overweight' rating and a target price of ₹215. JP Power also saw significant trading with more than 5 crore shares changing hands while the stock declined over 3% during the session, looking on course to snap its three-day winning run. JP Power shares have jumped 40% in April.
The market decline was attributed to weak global cues, with Brent crude oil prices surging to as high as $114 per barrel amid reports of escalating tension between the US and Iran. As per Upstox, the Indian rupee fell to a fresh record low of 95.20 against the US dollar, declining 32 paise due to sustained FII outflows and elevated crude prices. The US Federal Reserve's hawkish commentary on interest rates supported the US dollar index and triggered further rupee weakness. The market volatility reflects broader concerns about geopolitical tensions and their impact on commodity prices, with more than 26 stocks hitting their 52-week low and 65 stocks hitting their lower circuit on NSE. Broader market indices including NIFTY Midcap100 (-1.3%) and NIFTY Smallcap100 (-0.7%) are also trading lower, with all sectoral indices except NIFTY IT trading in the red.
