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Stock market today: The Indian stock market saw a significant across-the-board selloff in morning trade on Thursday, April 30, dragging the benchmarks, the Sensex and the Nifty 50, down by more than 1%.

The 30-share pack Sensex fell over 1,150 points, or 1.5%, to an intraday low of 76,349, while the Nifty 50 dropped more than 350 points, or 1.6%, to a day low of 23,801.

Investors lost almost ₹9 lakh crore as the market capitalization of BSE-listed firms fell to ₹460 lakh crore from ₹469 lakh crore in the previous session.

The rupee fell past 95 per US dollar to a record low, dragged down by rising oil costs and the US Federal Reserve's hawkish stance.

Brent crude rose to a four-year high of $126 per barrel after Axios reported that the US military plans to inform President Donald Trump on fresh options against Iran.

On Wednesday, Trump met with oil companies to discuss how to offset the impact of a possible months-long blockade of Iran's ports, raising concerns about long-term supply disruptions.

Higher oil prices pose inflation risks for India, the world's third-largest crude importer, as well as endangering economic growth and business profits.

After showing a failed attempt of breakout of the hurdle at 24,200 levels on Wednesday, Nifty 50 slipped into weakness on the backdrop of looming West-Asia crises and rise in International Crude Oil prices on Thursday. After opening on a downside gap of 170 points, the market slipped into further weakness soon after the opening. The recovery attempt of early part has failed and Nifty 50 is currently placed at the lows. The underlying short-term trend of Nifty 50 is choppy while the medium-term trend is up. Nifty 50 is expected to move within a broader high low range of 24,300-23,800 levels in the near term.

After showing a downward correction in last week, Time Technoplast share price has bounced back on Thursday. We observe a formation of higher bottom at ₹182 levels and the stock price is currently in an attempt of regaining the hurdle of 200day EMA. Volume pattern and RSI shows positive indication.

Gujarat Ambuja Exports share price has been moving in a broader high low range of ₹145-160 levels in the last few weeks. The supports of 10/20day EMA has been held during the up move. Bullish chart pattern like higher tops and bottoms is also observed on the daily timeframe chart. Daily 14 period RSI shows bullish indications.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.

At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.

Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation.

Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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