Stock Market Opening Bell: Nifty 50 Fell 0.30%, Sensex Declined 0.23% - Here's Why

Stock Market Today: The Indian benchmark stock market indices opened lower on Friday's trading session, tracking mixed global cues such as soaring oil prices, and positive trends on Gift Nifty

While the Sensex declined 0.23% to 77,483.80, Nifty 50 fell 0.30% to 24,100.55 level. 

The Gift Nifty was trading nearly 24,263 level, a premium of nearly 100 points from the Nifty futures’ previous close.

Globally, Asian market traded mixed, but the benchmark bourses on Wall Street ended lower, falling from record high levels.

Meanwhile, the US President Donald Trump noted that the US has full control over its blockade of measures against Iran, calling them effective.

Also Read: Stock Market Today: How Will Nifty 50, Sensex Trade On April 24?

Crude Oil Prices

Crude oil prices rose over military tensions in the Middle East. While Brent crude futures surged 1.17% to $106.3 a barrel, the West Texas Intermediate (WTI) futures rallied 1.12% to $96.92.

Gold Rate Today

The yellow metal prices remained steady however experts indicated that they were on track for a decline over soaring oil prices, which had renewed inflation and higher-for-longer interest rates. Spot gold price rose 0.1% at $4,697 per ounce. The metal is down 2.6% so far this week after a four-week winning run, according to a Reuters report. The US gold futures for June delivery fell 0.2% to $4,712.50. Spot silver fell 0.1% to $75.36 per ounce.

Stocks In Focus

Dabur India: The FMCG player has appointed Herjit S. Bhalla as their new Chief Executive Officer (CEO) for its India Business.

Bank of Baroda: Extends MD & CEO Debadatta Chand’s tenure by 3 years. 

Infosys: IT major reported a revenue up 2% at Rs 46,402 crore as against Rs 45,479 crore. EBIT up 2.8% at Rs 9,743 crore versus Rs 9,479 crore. EBIT margin up 20 bps at 21.0% versus 20.8%. Net profit up 27.8% at Rs 8,501 crore versus Rs 6,654 crore. The board of directors also announced a final dividend of Rs 25 per share. The company provided an FY27 revenue growth guidance of 1.5-3.5% in CC terms and an operating margin guidance of 20-22%.

IndiGo: The low-cost passenger carrier received a warning letter from the DGCA concerning airfares charged during December, advising caution and adherence to government orders. The DGCA noted that the company has already completed corrective measures, including processing refunds.

Gujarat Gas: The natural gas distribution company ensured an uninterrupted gas supply to the Morbi unit to support the revival of the local ceramic industry, providing price stability amid ongoing geopolitical disruptions that previously caused a surge in raw material costs. In Morbi, the gas consumption has rebounded to ~2.70 Mmscmd in April after operations of several ceramic units were suspended in March, which had temporarily affected the livelihood of nearly 2 lakh workers.