Indian stock markets plunged on April 24 as Sensex fell over 1,000 points and Nifty dropped below 24,000 amid global uncertainties and elevated crude prices. The Sensex declined 982.71 points to 76,681.29 while Nifty fell 275.10 points to 23,897.95. IT stocks were the worst performers, with Nifty IT plunging nearly 5 percent. Analysts attributed the sharp selloff to ongoing West Asian tensions, crude oil prices above $100 per barrel, and stalled US-Iran negotiations. Foreign institutional investors remained cautious due to valuation concerns and currency volatility. However, defensive sectors like FMCG and pharma showed relative resilience. Bank Nifty faces a critical support zone at 55,500 to 55,200, while Nifty 50 has key support at 24,000. Markets are expected to remain range-bound in the near term with direction dependent on geopolitical developments and crude oil price movements.
