Stock market today: According to experts, the Gift Nifty live chart is signalling a positive start for the Indian stock market on Friday.(Photo: Bloomberg)AI Quick ReadStock market today, 24 April 2026: Following the intensifying global uncertainty around the opening of the Strait of Hormuz, the key indices of the Indian stock market extended their losing streak for the second straight session on Thursday. The Nifty 50 index corrected 205 points and closed at 24,173. The BSE Sensex crashed 852 points and closed at 77,664. The Bank Nifty index nosedived 819 points, finishing at 56,305.
Sectorally, the weakness was led by rate-sensitive and cyclical pockets. Banking and auto stocks emerged as key drags, with heavyweights witnessing sustained selling pressure. Union Bank of India stood out on the downside, declining sharply after weak core income, margin compression, and a significant spike in provisions raised concerns about earnings visibility in the PSU banking space.
The Gift Nifty live chart is signalling a positive start for the Indian stock market today. The index opened flat but soon gathered positive momentum, touching an intraday high of 24,262 and logging an intraday gain of around 0.50% during the early morning deal on Friday. By 7:45 AM, the index was trading 90 points higher at 24,247.
Expecting trend reversal on Dalal Street during Friday session, Avinash Gorakshkar, a SEBI-registered fundamental equity analyst, said, “The Gift Nifty live chart is signalling around 100 points gain, which means the key benchmark index of the Indian stock market is set to change bias today. We are expecting the Nifty 50 to open around 24,200 to 24,225.”
Developments in West Asia continue to influence market psychology. Although the ceasefire between Israel and Lebanon has been extended by three weeks following diplomatic engagement led by Donald Trump, the extension is being viewed as a temporary relief rather than a structural resolution. The underlying tensions, particularly around Iran, continue to keep risk appetite in check. This is also evident in mixed trends across Asian markets, where cautious optimism is being offset by the lack of long-term clarity.
Crude oil remains a critical variable in this environment. Elevated prices, driven by geopolitical risks, continue to pose challenges for inflation and currency stability in import-dependent economies like India. This macro overhang is likely to limit aggressive positioning on the long side and keep markets sensitive to global headlines.
Gold and silver rates are under pressure in the early morning Asian session. The COMEX gold rate today is down by 0.80% at $4,685 per ounce. Likewise, the COMEX silver rate today is down by nearly 1% to $74.750 per ounce.
Domestically, the focus firmly shifts to earnings, with several heavyweight companies set to drive stock-specific action. Reliance Industries will be the key stock in focus, with its Q4 results 2026 expected after market hours, often setting the tone for broader market sentiment. Alongside, IndusInd Bank and Shriram Finance will be closely tracked for insights into credit growth and asset quality trends. In addition, stocks such as Adani Green Energy, L&T Finance, Mahindra & Mahindra Financial Services, and Zensar Technologies are likely to witness heightened activity following their earnings announcements. Reaction to recent results from Infosys will also remain a key driver for the IT sector.
Volatility indicators suggest markets may remain volatile throughout the session. India VIX is currently elevated near 18.6, indicating heightened uncertainty and the likelihood of sharp intraday swings. Elevated volatility typically leads to higher option premiums, making directional trades more expensive and risk-sensitive. In such an environment, overnight positioning in derivatives carries elevated risk, particularly given the potential for sudden geopolitical developments to trigger one-sided moves.
Speaking on the outlook of the Nifty 50, Sensex today, Shrikant Chouhan, Head Equity Research, Kotak Securities, said, "For day traders, the 50-day SMA (Simple Moving Average) or 24,300/78200 would act as an immediate resistance zone. Below this level, the correction wave is likely to continue. On the downside, the index could slip to 24,000/77000. Further downward movement may continue, potentially dragging the index to 23,900/76700. On the upside, a move above 24,300/78200 could lead to a bounce back towards 24,450–24,500/78500-78800."
On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index closed on a weak note, forming a bearish candlestick on the daily chart while sustaining below the crucial 38.2% Fibonacci retracement level and its 50-day moving average, indicating persistent selling pressure. On the hourly timeframe, RSI has slipped into a bearish crossover, signalling short-term weakness.
“The overall setup remains negative, suggesting a cautious stance for traders. Immediate support is placed at 55,800, aligning with the recent swing low of April 17, while positional support is seen at 55,000. On the upside, resistance is placed near the 56,500 level,” said Vatsal Bhuva of LKP Securities.
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: AU Small Finance Bank, Tata Communications, Persistent Systems, JWL, ITC, Laurus Lab, Bajel Projects, and Confidence Petroleum.
1] AU Small Finance Bank: Buy at ₹1056, Target ₹1128, Stop Loss ₹1020; and
2] Tata Communications: Buy at ₹1581, Target ₹1693, Stop Loss ₹1525.
3] Persistent Systems: Buy at ₹5080, Target ₹5250, Stop Loss ₹5000;
4] JWL: Buy at ₹286, Target ₹300, Stop Loss ₹280; and
5] ITC: Buy at ₹305, Target ₹315, Stop Loss ₹298.
6] Laurus Lab: Buy at ₹1129, Target ₹1175, Stop Loss ₹1105;
7] Bajel Projects: Buy at ₹184.60, Target ₹195, Stop Loss ₹182; and
8] Confidence Petroleum: Buy at ₹55.58, Target ₹60, Stop Loss ₹53.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).