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The Indian stock market ended lower in the final trading session of April, as a sharp jump in crude oil prices triggered heavy selling in oil-sensitive stocks, while weak global cues and the Indian rupee slipping to another record low kept investors in a risk-off mode.

The Nifty 50 ended the session 0.73% lower at 24,000, though it recouped a major portion of the intraday losses from the day’s low. Meanwhile, the S&P BSE Sensex closed at 76,891, down 0.78% compared with Wednesday’s closing level.

Despite swinging between gains and losses throughout the month, both benchmark indices wrapped up April with solid gains of over 7%, marking their biggest monthly advance since December 2023. The broader market outperformed the headline indices, with the Nifty Midcap 100 index jumping 13%, while the Nifty Smallcap 100 index surged 18%.

In the currency market, the Indian rupee slipped to a fresh record low on Thursday, touching 95.33 against the U.S. dollar, down as much as 0.5% during the day and breaching its previous all-time low of 95.21 touched in late March.

Meanwhile, crude oil prices continued to climb as tensions in West Asia showed no signs of easing. Brent crude futures for June delivery advanced more than 3% to $121.09 a barrel after hitting an intraday high of $126.41 earlier on Thursday, its highest level since 2022, and remained on track for a ninth straight day of gains.

Oil prices have now surged more than 100% this year and extended gains on Thursday after Axios reported that President Donald Trump was scheduled to receive a briefing on fresh plans for potential military action against Iran.

The development further eroded hopes of a full reopening of the Strait of Hormuz, where the flow of oil and other critical supplies has remained severely disrupted for more than two months.

Vedanta emerged as the top laggard as its shares appeared to plunge 65% on Thursday after turning ex-demerger, with the stock price adjusting to exclude the value of its four newly demerged businesses.

The sharp decline was purely technical and did not indicate any erosion in investor wealth, as shareholders will receive proportional value through the separately listed entities. Other metal stocks such as NALCO, APL Apollo Tubes, Hindustan Copper, Hindalco Industries, Hindustan Zinc, and Tata Steel also ended lower, declining between 2% and 8.8%.

Waaree Energies lost 11% following its Q4 earnings announcement, while HEG dropped 9.8% after its quarterly numbers. Emmvee Photovoltaics plunged 9.6%, while National Aluminium, KFIN Technologies, and Adani Energy Solutions all declined over 5%. Force Motors also fell 5.15% as its Q4 performance failed to cheer investors.

Tyre majors such as CEAT and Apollo Tyres declined 5% and 3.8%, respectively, amid the sharp jump in crude oil prices. Among auto stocks, Tata Motors, Ashok Leyland, Mahindra & Mahindra, TVS Motor Company, UNO Minda, Samvardhana Motherson, and Bharat Forge all fell more than 1.5%. Eternal shares extended losses for another session, falling 2.76% to ₹247 apiece.

(more to come)Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments.

He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom.

During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles.

He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements.

His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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