Nifty50 falls 180.1 points (0.74%) — India Market Digest 30 April 2026

Bearish sentiment dominated as Nifty slipped below the psychological 24,000 mark, closing at 23,997.55. Sensex followed suit, dropping 0.75% to 76,913.5. A sharp intraday recovery from the 23,796 low suggests some buying interest at lower levels, but the overall trend remains cautious. Investors are clearly de-risking ahead of the monthly expiry and upcoming global economic data updates that could dictate the next leg.

IT majors like Infosys and Tech Mahindra provided some support, gaining roughly 1% as investors sought safety in export-oriented sectors amidst domestic volatility. Conversely, heavyweights like Hindustan Unilever fell nearly 3% due to concerns over rural demand, while Axis Bank faced heavy selling pressure. The weakness in UltraTech Cement highlights a broader cooling in the construction and infrastructure space as high interest rates begin to bite into corporate margins.

With Nifty hovering around the 24,000 pivot, retail investors should avoid aggressive buying until the trend stabilizes. Focus on defensive sectors like IT which are showing relative resilience. Watch the banking sector tomorrow; if Axis Bank continues its slide, it could pull the Nifty Bank index further down. Monitor Bajaj Finance for potential strength if the broader market stabilizes.

Market Mood: Bearish

Rising crude oil prices and a strengthening dollar are putting pressure on the rupee, making imports costlier and keeping the Reserve Bank of India on high alert regarding domestic inflation.