Crude Oil Prices To Gift Nifty: Key Triggers To Influence Sensex, Nifty 50 Today
The Indian benchmark stock market indices Nifty 50 and Sensex are expected to open in red on Thursday, April 23, as investor sentiment remained weak amid surging crude oil prices due to the ongoing blockade of Strait of Hormuz.
- Republic Business
- 2 min read
The Indian benchmark stock market indices Nifty 50 and Sensex are expected to open in red on Thursday, April 23, as investor sentiment remained weak amid surging crude oil prices due to the ongoing blockade of Strait of Hormuz. Gifty Nifty was also indicative of a negative start for the stock market bourses today.
The Gift Nifty was trading nearly 24,204 level; 177 points lower from the Nifty futures’ previous close.
Meanwhile, Asian markets traded higher as Nikkei and Kospi hit record highs, while the US stock market also rallied overnight, sending S&P and Nasdaq to record closing.
Coming to geopolitical tensions, Iran attacked three ships in the critical chokepoint Strait of Hormuz and seized two of these vessels. The attacks came after the US President Donald Trump extended a ceasefire while maintaining the US blockade of Iranian ports.
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Crude Oil Prices Today
The prices of crude oil surged with Brent crude oil price rising over $102 a barrel, and the US West Texas Intermediate (WTI) crude futures around $93 level.
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Gold Rate Today
The yellow metal rates found itself in choppy trade as uncertainty prevails over the US-Iran peace talks. Spot gold price rose 0.1% to $4,744.31 per ounce, while US gold futures for June delivery gained 0.2% to $4,762.20. Spot silver rose 0.5% to $78.06 per ounce.
Top Stocks In Focus Today
Trent: The Tata Group stock posted a 26% year-on-year (YoY) rise in consolidated net profit for the quarter ended March 31, 2026, with earnings rising to Rs 400 crore from Rs 318 crore in the corresponding period last year.
Jio Financial Services: Jio Financial Services and Allianz Group on Wednesday entered into a binding agreement to establish a 50:50 primary insurance joint venture, marking their entry into India’s general and health insurance sectors and formalising a partnership initially announced in July 2025.
SBI Life: SBI Life Insurance reported a slight drop in its standalone profit to Rs 805 crore for the fourth quarter, marking a decline of around 1% compared to the same period last year.
Bharat Electronics: BEL has won new defence contracts worth Rs 569 crore at the beginning of FY27, further boosting its order book following a strong performance in FY26.
Tata Communications: The company posted a weak fourth quarter in terms of profitability, with net profit dropping 74.7% year-on-year to Rs 263.25 crore, down from Rs 1,040.5 crore.