The Indian stock market experienced significant selling pressure on April 24, with Nifty 50 dropping 205 points to close at 24,173.05, marking a 0.84% decline, while BSE Sensex fell 852.49 points to finish at 77,664.00, reflecting a 1.09% decrease. According to reports from LiveMint, the benchmark indices finished significantly lower as crude oil prices climbed above USD 100 per barrel, negatively affecting investor sentiment. Market analysts linked the downturn to escalating geopolitical tensions and uncertainty regarding the situation in West Asia. The Gift Nifty was trading around the 24,233 level by 7:41 AM, showing a premium of around 70 points from the Nifty futures' previous close of 24,163, indicating a mildly positive opening for the session. Despite the market decline, early indicators suggest a higher start for domestic markets compared to the previous session's muted opening.
Despite the market decline, MarketSmith India Co-founder Raja Venkatraman recommended five stocks for April 24 - Praj Industries Ltd (₹410.05), Mankind Pharma Ltd (₹2,292.90), Computer Age Management Services Ltd (CAMS) (₹770.70), Sai Life Sciences Ltd (₹1,040), and Garware Hi-Tech Films Ltd (₹4,195). As reported by LiveMint, these recommendations come as early indications point toward a flat opening with the Gift Nifty hovering around the 24,150 mark, suggesting lack of strong directional cues at the start of the day. The broader sentiment remains fragile, shaped largely by persistent geopolitical uncertainty, with developments in West Asia continuing to influence market psychology.
Praj Industries is recommended as a buy above ₹415 with stop loss at ₹390 and target price of ₹461 over two months. According to MarketSmith India, the stock has been descending for nine months but shows strong bullish possibility with prices holding the TS & KS levels. Mankind Pharma is suggested as a buy above ₹2,305 with stop loss at ₹2,240 and target of ₹2,455 over two months, with strong surge in Open Interest indicating steady upward bias. CAMS is recommended as a buy above ₹771 with stop loss at ₹730 and target of ₹850 over two months, benefiting from its 69.4% market share as a Qualified Registrar and Transfer Agent for mutual funds. Sai Life Sciences is positioned as a buy at ₹1,030-1,050 with target price of ₹1,250 in two to three months and stop loss at ₹940, while Garware Hi-Tech Films is recommended as a buy at ₹4,180-4,230 with target of ₹4,780 in two to three months and stop loss at ₹3,940.
According to Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, Indian markets are likely to begin the session on a muted note with early indications pointing toward a flat opening. As reported by LiveMint, global markets reflected this caution in the previous session, with the S&P 500 touching an intraday record high but failing to hold gains, showing selling pressure particularly visible in technology stocks. The ceasefire between Israel and Lebanon has been extended by three weeks following diplomatic engagement led by Donald Trump, but this extension is being viewed as temporary relief rather than a structural resolution. The underlying tensions, particularly around Iran, continue to keep risk appetite in check, with mixed trends across Asian markets where cautious optimism is being offset by the lack of long-term clarity. Key focus stocks include Infosys, Tata Capital, and Cyient, among others, reporting mixed quarterly performances, while Reliance Industries, Shriram Finance, IndusInd Bank, Adani Green Energy, and Can Fin Homes are scheduled to announce their quarterly earnings today.
