The key equity barometers ended with major losses on Thursday, amid heightened volatility, as escalating tensions between the US and Iran rattled investor sentiment. The mood worsened further the rupee weakening to an all-time low. Persistent selling by foreign institutional investors (FIIs) added to the pressure, while the monthly Sensex derivatives expiry amplified market swings. The Nifty closed below the 24,000 mark.

Metal, PSU Bank and consumer durables shares declined while IT and Pharma stocks advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 582.86 points or 0.75% to 76,913.50. The Nifty 50 index declined 180.10 points or 0.74% to 23,997.55.

In the broader market, the BSE 150 MidCap Index tumbled 1.01% and the BSE 250 SmallCap Index fell 0.50%.

The market breadth was weak. On the BSE, 1,093 shares rose and 2,684 shares fell. A total of 192 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 5.86% to 18.46.

In the foreign exchange market, the rupee weakened against the US dollar. The partially convertible rupee was trading at 94.9000, compared with its previous close of 94.8800. During the session, the currency touched an all-time low of 95.3450.

The stock market will remain closed on Friday, 1 May 2026, on account of Maharashtra Day.

Stocks in Spotlight:

Bajaj Finance advanced 0.98% after the company reported a 21.99% rise in consolidated net profit to Rs 5,464.57 crore on an 18.1% jump in total revenue from operations to Rs 21,605.79 crore in Q4 FY26 over Q4 FY25.

Hindustan Unilever declined 2.70%. The company's consolidated net profit jumped 20.97% to Rs 2,994 crore on a 7.2% rise in total income to Rs 16,615 crore in Q4 FY26 over Q4 FY25.

Bajaj Finserv fell 0.99%. The company reported 5.05% increase in consolidated net profit to Rs 2,538.67 crore on 5.66% increase in revenue from operations to 38,493.79 crore in Q4 FY26 over Q4 FY25.

Bajaj Auto rallied 5.11% after the company said its board will meet on 6 May 2026 to consider a proposal for share buyback. The company said the board will also consider financial results for the year ended 31 March 2026, along with a recommendation on dividend, if any..

Adani Ports and Special Economic Zone (APSEZ) rose 0.98%. The company reported 10.44% jump in consolidated net profit to Rs 3,328.96 crore on 26.5% increase in revenue from operations to Rs 10,737.58 crore in Q4 FY26 over Q4 FY25.

CemIndia Projects hit upper circuit of 20% after the company's consolidated net profit soared 113.63% to Rs 242.17 crore on 17.42% increase in revenue from operations to Rs 2973.49 crore in Q4 March 2026 over Q4 March 2025.

Adani Power (APL) advanced 1.35% after the company reported a 64.33% surge in consolidated net profit to Rs 4,271.40 crore in Q4 FY26 as compared to Rs 2,599.23 crore recorded in Q4 FY25. Revenue from operations remained largely flat at Rs 14,223.09 crore in the quarter ended 31 March 2026, compared with Rs 14,237.40 crore in the corresponding quarter last year.

RPG Life Sciences surged 13.07% after the company has reported 74.5% drop in consolidated net profit to Rs 29.90 crore despite a 23.6% increase in net sales to Rs 176.89 crore in Q4 FY26 as compared with Q4 FY25.

HEG tumbled 9.44% after the company's consolidated net loss widened to Rs 113.77 crore in Q4 FY26 compared to a net loss of Rs 73.67 crore in Q4 FY25. Despite the weak bottom line, revenue from operations jumped 12.42% YoY to Rs 603.21 crore in Q4 FY26.

Smartworks Coworking Spaces rose 1.40% after the company reported a consolidated net profit of Rs 16.6 crore in Q4 FY26 compared with net loss of Rs 8.30 crore in Q4 FY25. Revenue from operations jumped 44.99% YoY to Rs 519.68 crore in the quarter ended 31st March 2026.

Mphasis added 1.17% after the company's consolidated net profit increased 15.26% to Rs 509.64 crore on 14.36% increase in revenue from operations to Rs 4242.66 crore in Q4 FY26 over Q3 FY26.

Time Technoplast rallied 4.89% after the company announced a key regulatory approval in the hydrogen mobility space. The company said it has received approval from the Petroleum and Explosives Safety Organization (PESO) for the design and manufacturing of 250-litre high-pressure Type IV composite hydrogen cylinders. These cylinders are intended for onboard use in buses, trucks and trailers.

Global Markets:

Most European market advanced on Thursday as investors turned their focus to the European Central Bank and the Bank of England, both set to announce their latest monetary policy decisions later in the day

Most Asian market ended lower, tracking overnight losses in key Wall Street benchmarks amid a U.S. blockade of Iranian ports, while the Federal Reserve held interest rates steady.

Oil climbed after a media report stated President Donald Trump had told aides to prepare for an extended blockade of Iran.

Prices extended gains after another media article said that Trump rejected Iran's proposal to reopen the Strait of Hormuz, signaling the U.S. naval blockade will remain until a deal addressing Tehran's nuclear program is reached.

Overnight on Wall Street, the Dow Jones Industrial Average ended Wednesday lower as oil prices continued their rally amid a U.S. blockade of Iranian ports and after the Federal Reserve left its key interest rate unchanged.

The 30-stock index fell 280.12 points, or 0.57%, to close at 48,861.81 and notch a fifth straight losing day. The S&P 500 inched down 0.04% to close at 7,135.95, while the Nasdaq Composite crept up 0.04% to 24,673.24.

Elevated oil prices will push up overall inflation' in the near term, Fed Chair Jerome Powell said during a press conference following the conclusion of the April Fed policy meeting.

At its latest meet, the Federal Open Market Committee voted 8-4 to hold rates in a range of 3.5% to 3.75%. That marked the first time four FOMC members dissented since October 1992. To be sure, members expressed different reasons for their vote.

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