The equity benchmark indices experienced significant declines on April 24, with Sensex falling 999.79 points (1.29%) to close at 76,664.21 and Nifty 50 dropping 275.10 points (1.14%) to finish at 23,897.95. According to reports from LiveMint, this marked the third consecutive day of decline due to a significant surge in crude oil prices and substantial selling in the IT sector. The Sensex had touched an intraday low of 76,403.87 during the session, representing a 1.62% decline from its opening levels.
The market decline was attributed to ongoing foreign fund withdrawals and negative global market trends amid extended conflict and disruptions in the Strait of Hormuz. As reported by LiveMint, Brent crude remains elevated, trading in the $105–108 per barrel range, continuing to act as a key overhang on market sentiment. The Gift Nifty was trading around the 24,120 level by 7:29 AM, showing a premium of 197.2 points from the previous close of 23,922.80, indicating a positive start for the Indian stock market.
Raja Venkatraman, Co-founder of NeoTrader and MarketSmith India, recommended four stocks for April 27 based on positive trends and technical analysis. According to LiveMint, the recommended stocks include Vardhman Textiles Ltd (current price ₹590.05), Vijaya Diagnostic Centre Ltd (₹1,065.55), Polyplex Corporation Ltd (₹889.65), and RBL Bank Ltd (₹321). The recommendations are based on technical breakouts, strong fundamentals, and sector-specific opportunities in the current market environment.
Vardhman Textiles is recommended as India's largest vertically integrated textile producer with a P/E ratio of 21.61 and 52-week high of ₹604.15. The stock has shown an ascending triangle breakout with technical support at ₹495 and resistance at ₹700. Vijaya Diagnostic Centre is positioned as a leading diagnostic chain in South India with P/E ratio of 64.95 and 52-week high of ₹1,165.50. Polyplex Corporation is recommended as a leading global PET films manufacturer with P/E ratio of 41.49 and 52-week high of ₹1,396.80. RBL Bank is suggested for its retail-focused strategy with P/E ratio of 26.77 and 52-week high of ₹340.40.
According to LiveMint, Indian equity markets are expected to remain cautious and volatile amid persistent geopolitical uncertainty. The ongoing ambiguity around U.S.-Iran tensions and broader Middle East developments continues to weigh on risk sentiment. Foreign investor flows remain under pressure with sustained outflows reflecting global risk aversion, elevated bond yields and currency-related concerns. The Q4 earnings season is driving stock-specific movements, with weakness in the IT sector and select heavyweight stocks weighing on broader indices, while defensive segments offer only limited support.
