Stock Market Crash Today: Nifty Below 24,000, Sensex Tumbles 770 Points; Know Why Market is Falling?

Dalal Street opened on a weak note on Friday, April 24, 2026, as rising global tensions and a sharp surge in crude oil prices triggered fresh selling across equities. Investor sentiment turned cautious amid fears of supply disruptions in the Middle East, pushing benchmark indices lower for the third straight session, with the Nifty50 slipping below the crucial 24,000 mark and the BSE Sensex witnessing heavy declines in early trade.

Nifty Falls Below 24,000; Sensex Drops Nearly 800 Points

Nifty Today: As of 10:30 AM, the Nifty 50 was trading at 23,954.65, down 218.40 points or 0.90%. The index opened at 24,100.55 and touched a high of 24,206.00 before falling to a low of 23,937.25.

Sensex Today: The BSE Sensex also declined sharply, falling 770.86 points or 0.99% to 76,893.14. It opened at 77,483.80 and slipped to an intraday low of 76,829.10, compared to the previous close of 77,664.00.

Why Is the Stock Market Falling Today? Know All Key Reasons Behind Market Crash

From a technical perspective, the recent decline in the NIFTY 50 is being driven more by chart-based weakness than any single fundamental trigger.

"Firstly, the index has failed to sustain above key resistance zones (24,600-24,800), which earlier acted as a supply zone. This rejection has led to a shift in short-term trend, with price action now forming a sequence of lower highs, indicating distribution at higher levels," said Aakash Shah, Technical Analyst, Technical Research at Choice Broking.

Adding to the weakness, Nifty has slipped below the crucial 24,000 mark, which was acting as both a psychological and technical support. With the index now trading below this level, the next key support is seen around 23,555. A breach of this zone could open the door for further downside in the near term.

Momentum indicators also fail to provide comfort to bulls. While the Relative Strength Index (RSI) is hovering around the neutral 50 zone, indicating lack of directional bias, the Average Directional Index (ADX) remains below 20. This suggests the absence of strong trend strength and typically results in choppy, volatile, and downward-biased moves during corrective phases.

India VIX is Rising

Another key factor is the rise in volatility. India VIX has moved above 19, signalling increased uncertainty and a risk-off environment in the market. Historically, higher volatility levels tend to coincide with market corrections or bearish phases.

Iran and US Tension Around Strait of Hormuz

The primary reason behind today's decline is rising geopolitical tension between Iran and the United States. Concerns around the Strait of Hormuz, a key global oil supply route - have intensified after reports of vessel seizures and military activity in the region. Since nearly 20% of global oil passes through this route, any disruption creates panic in financial markets.

Rising Oil Prices Add Pressure

Crude oil prices have surged amid these tensions, further weakening sentiment. Brent crude is trading near $106 per barrel, while WTI crude is close to $96 per barrel. Higher oil prices are negative for India as they increase import costs, push inflation higher, and reduce corporate profitability - all of which drag stock markets lower.

Rupee Weakens Amid FII Selling

The Indian rupee also came under pressure, weakening by 24 paise to 94.25 against the US dollar. The currency has declined this week as foreign investors continue to pull money out of Indian equities. A weaker rupee adds to market concerns by increasing import bills and reducing investor confidence.

IT Stocks Drag Markets Lower

On the sectoral front, IT stocks were the biggest losers. Infosys fell more than 3% after its Q4 earnings and outlook disappointed investors. Weak guidance triggered selling across the IT sector.

Other major IT companies, including HCL Technologies and Tata Consultancy Services, also declined, making the IT index one of the worst performers during the session.

Other Stocks Under Pressure

Apart from IT, heavyweights such as Sun Pharmaceutical Industries, ICICI Bank, and Power Grid Corporation of India also contributed to the fall, adding to the broader market weakness.

What It Means for Investors?

In simple terms, the market is falling due to a mix of global and domestic factors - rising geopolitical risks, surging oil prices, a weakening rupee, and disappointing earnings from key companies. These elements have made investors cautious, leading to continued selling pressure.

"Hence, some consolidation at current level cannot be ruled out. We expect the index to consolidate in the range of 23 ,600 - 24 ,800 . Stock specific action will continue to
remain in focus as we progress through the quarterly earning session. Short -term support is positioned around 23 ,600 -23 ,500 range being the confluence of last week low and 38 .2% retracement of the last 3 weeks pullback (22 ,183- 24 ,601)," stated Bajaj Broking Research.

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