Sensex, Nifty 50 | Stock Market Highlights: Sensex ends 1000 pts lower, Nifty 50 slips below 23,900; all sectors in red

Reliance Industries, led by Mukesh Ambani, is set to announce its Q4FY26 results on Friday, April 24, 2026.

The company’s Board of Directors will meet on the same day to consider and approve both standalone and consolidated audited financial results for the quarter and full year ended March 31, 2026. The board is also expected to recommend a dividend on equity shares for FY26.

Ahead of the earnings announcement, Reliance Industries’ share price was trading slightly lower and has declined around 15% so far in 2026.

For the March quarter, the company is expected to report a muted performance, weighed down by continued weakness in its oil-to-chemicals (O2C) segment and relatively modest growth in the retail business. However, its telecom arm, Reliance Jio, is likely to remain a key growth driver with strong earnings momentum.

On a consolidated basis, revenue is estimated to rise 9% quarter-on-quarter to ₹2,88,746 crore, compared to ₹2,64,905 crore in the previous quarter. Net profit is expected to increase 4% to ₹19,390 crore from ₹18,645 crore.

EBITDA is likely to remain largely stable in the range of ₹45,000 crore to ₹46,000 crore, although margins may contract sharply due to continued pressure in the O2C business.

Rupak De, Senior Technical Analyst at LKP Securities said, "The past three sessions have been highly volatile, with the index witnessing a sharp decline amid renewed tensions between the US and Iran. The rise in crude prices, along with a weakening rupee, further amplified the pressure on Indian equities. Technically, the index faced resistance near the 100 EMA on the daily chart, which capped the rally and triggered fresh selling, dragging it below the 24,000 mark. The broader setup now appears bearish, with Nifty likely to head towards 23,500. On the upside, 24,200 remains an immediate resistance level, and a move above it could help improve market sentiment."

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: "Rupee traded weak by 0.165 at 94.22, as broader sentiment remained under pressure with rising crude prices weighing on emerging market currencies. The sharp surge in crude above $107 has intensified concerns around India’s import bill, acting as a key trigger for continued weakness in the rupee.

Ongoing FII outflows had already kept the currency under pressure, and the recent spike in crude has further accelerated the downside momentum.

Technically, 93.50 now acts as immediate resistance, while 94.50 is seen as the next key support zone, indicating a weak bias with potential for further depreciation if crude sustains at elevated levels."

Vinod Nair, Head of Research, Geojit Investments said:

"The Indian equity market extended its profit-booking streak, pressured by heightening geopolitical tensions in West Asia, a sharp rally in crude oil prices, and a weakening rupee. IT stocks led the decline following disappointing quarterly earnings, while selling pressure was broad-based across sectors. FIIs returned to net selling again after a brief spell of inflows. Sentiment was further dented by global rating agencies downgrading India on inflation and macro concerns, along with the RBI flagging early signs of slowing growth. While valuations have corrected, investors are expected to closely monitor the ongoing results for any potential earnings downgrade, given the wobbling geopolitical uncertainties."

Broader markets succumbed to selling pressure, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices falling 0.8% and 0.9%, respectively.

Sensex ended 1000 points lower at 76,664.21, whereas Nifty 50 shed 275.10 points to settle at 23,898.

Adani group company Adani Green Energy posted a 34% year-on-year (YoY) increase in its consolidated net profit for the January-March quarter (Q4) of FY26 on Friday, 24 April.

The renewable energy firm's net profit came in at ₹514 crore as against ₹383 crore in the same period last year. Meanwhile, the profit surged over 102 times on a sequential basis from ₹5 crore posted at the end of the December quarter of FY26.

Total income during the quarter under review stood at ₹3,727 crore, recording an upside of 13.69% YoY from ₹3,278 crore in the March quarter of FY25.

J.P.Morgan downgraded Indian equities to "neutral" from "overweight," citing elevated valuations compared to emerging market peers and pressure on earnings from energy supply shocks linked to the Iran war, a day after HSBC lowered its rating.

Surging crude prices could stoke inflation and growth risks for the country, squeeze consumption and weigh on near-term corporate margins, with a weakening rupee adding to the pressure, the brokerage said in a note on Friday. Additionally, the brokerage lowered its year-end target for the benchmark Nifty 50 by 10% to 27,000. The Nifty and Sensex have fallen 8.5% and 10% this year and are currently trading about 9.3% and 11% lower than record highs hit in early 2026 and late 2025, respectively. Read more

Vedanta subsidiary, Hindustan Zinc, announced its fourth quarter and financial year 2025-26 results during market hours on Friday, April 23, along with the declaration of the first interim dividend.

The company reported a strong financial performance, with net profit surging 67.6% to ₹5,033 crore from ₹3,003 crore in the previous period. Revenue grew 43.8% to ₹12,692 crore compared to ₹8,829 crore earlier, reflecting robust business momentum. Operating performance remained solid, with EBITDA rising 60.7% to ₹7,706 crore, while margins expanded to 56.9%.

The company announced an interim dividend of ₹11 per share along with its Q4 results.

Shares of Lux Industries fell over 7% to ₹1,616 on the NSE after the board granted in-principle approval for a proposed demerger following a family settlement among the Todi promoters. The company clarified it is not a party to the agreement.

The plan involves splitting the business into three verticals. Vertical A (Lux Cozi, ONN, Lux Parker) and Vertical C (Lux Classic, GenX) will be demerged into separate listed entities, while Vertical B (Lux Venus, Lyra) will remain with Lux Industries.

Management control will shift, with the Pradip Kumar Todi family continuing to run Lux Industries, while other promoter families will lead the new entities. The board also approved incorporation of two subsidiaries and revised brand licensing agreements to safeguard intellectual property rights.

Ace investor Mukul Mahavir Agrawal holds about 1.5% stake in the company.

Shares of Himadri Speciality Chemical surged nearly 13% on Friday after the company reported strong Q4FY26 results and announced the commencement of operations at its first anode material production facility in West Bengal. The stock hit a fresh 52-week high of ₹604.75 during morning trade, with the rally adding nearly ₹3,500 crore to its market capitalisation, which rose to ₹30,624 crore.

The company posted a consolidated net profit of around ₹201 crore for the March quarter, registering a 29% YoY increase from ₹156 crore reported in the year-ago period. Revenue from operations rose about 13.5% YoY to ₹1,288 crore, compared with ₹1,135 crore in the corresponding quarter last year, reflecting steady business momentum.

In a separate filing, Himadri Speciality said it has commenced operations at its first anode material production facility at Mahistikry in West Bengal’s Hooghly district. The facility has an initial installed capacity of 200 MTA and marks a key step in the company’s long-term strategy to build capabilities in lithium-ion battery components. The development follows the company’s earlier announcement in December 2023 to scale up production of LiB components in phases, targeting a total annual capacity of 200,000 MT.

World shares were mostly lower while oil prices pushed higher Friday as talks on ending the war between the U.S. and Iran remained stalled.

U.S. futures also wavered after Wall Street pulled back from its all-time highs. The future for the S&P 500 edged 0.1% higher, while that for the Dow Jones Industrial Average lost 0.2%.

In early European trading, Germany's DAX lost 0.2% to 24,106.17 and the CAC 40 in Paris dropped 1% to 8,147.70. Britain's FTSE 100 sagged 0.6% to 10,397.64.

During Asian trading, Tokyo’s Nikkei 225 gained 1% to 59,716.18, led by heavy buying of technology stocks. On Thursday, it hit a record intraday high above 60,000. Hong Kong’s Hang Seng reversed earlier losses to add 0.2%, closing at 25,978.07, while the Shanghai Composite index edged 0.1% lower to 4,079.90. South Korea’s Kospi closed nearly unchanged at 6,475.63. In Australia, the S&P/ASX 200 declined 0.1% to 8.786.50. (AP)

The listing of the Vedanta demerged entities is expected to take time, as regulatory approvals and procedural requirements may span several weeks. As such, there is no definitive timeline for listing post-demerger.

According to Nuvama Alternative & Quantitative Research, recent demerger cases suggest that listing timelines can vary widely—from as little as three weeks to several months—depending on regulatory and operational factors.

Citing the listings of recently demerged companies - Tata Motors Passenger Vehicles, Siemens Energy, ITC Hotels, Jio Financial Services, Piramal Pharma, and NMDC Steel - Nuvama Alternative & Quantitative Research said that that listing timelines can range from 3 weeks to several months, depending on regulatory and operational factors.

The zone of 23,790 - 23,810 will act as a crucial support for the Nifty 50 index while the resistance lies in the zone of 24,040 - 24,060. On the downside, if the index slips below the level of 23,790 then the next support is placed in the zone of 23,500 - 23,400. In an event of a surge above 24,060, the index can experience an extension of the rally towards 24,260.

On the options front, meaningful call writing witnessed across 24,000 and 24100 strikes. On the put side, 23,800 has substantial open interest, followed by 23,700 strike. Nifty’s Advance Decline Ratio is at 10:40. Nifty’s PCR is currently at 0.66.

For Sensex, support is at 76,300 while resistance is at 77,100, said SBI Securities.

The sell-off in the Indian stock market intensified. The Sensex crashed 1,079.30 points, or 1.39%, to close at 76,584.70, while the Nifty 50 was down 295.65 points, or 1.22%, at 23,877.40.

J.P.Morgan downgraded Indian equities to ‘neutral’ from ‘overweight,’ citing elevated valuations compared to emerging market peers and pressure on earnings from energy supply shocks linked to the Iran war, a day after HSBC lowered its rating.

Surging crude prices could stoke inflation and growth risks for the country, squeeze consumption and weigh on near-term corporate margins, with a weakening rupee adding to the pressure, the brokerage said in a note on Friday, Reuters reported.

Earlier this month, JPMorgan cut FY2027 earnings estimates by 2%-10% across domestic sectors such as energy, consumer, auto and financials. It also reduced MSCI India earnings growth forecasts for 2026 and 2027 by 2 percentage points and 1 percentage point, respectively, to 11% and 13%.

Paresh Bhagat, CIO of Veer Growth Fund (AIF), and Chairman at Mangal Keshav Financial Services, believes elevated crude oil prices are key risks for the Indian stock market.

“As long as oil remains elevated, the correction risk in India isn’t fully behind us,” said Bhagat in an interview with Mint. Beyond the geopolitical headlines, Bhagat said the more important things to track are crude prices, the direction of the rupee, and how FII flows are evolving. Read here

Reliance Industries is expected to report a muted earnings during the fourth quarter of FY26, led by weakness in the oil-to-chemicals (O2C) business and tepid retail segment growth. However, analysts expect Reliance Jio, the telecom arm, to report strong earnings growth. Ahead of the RIL Q4 results, Reliance share price was trading marginally lower. It has, meanwhile, witnessed a 15% crash in 2026 so far. Catch Reliance Q4 results live updates here