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Indices continue to witness bloodbath in late morning deals
Apr-30-2026

Domestic equity indices continued to witness bloodbath and were trading in red with cut of around one and half percent in late morning deals on account of hectic selling by funds and retail investors. Rising crude oil prices and weak cues from the global markets weighed on the domestic sentiments. Brent crude surged following a private report stating that the U.S. military would brief President Donald Trump on potential action against Iran, raising worries that armed conflict could resume, and building on the American blockade of Iranian exports. Further, depreciation in Indian rupee against dollar also weighed down sentiments. Rupee weakened by 37 paise to 95.25 against the dollar at the Inter-bank Foreign Exchange market. 

On the global front, Asian markets were trading mostly in red following mostly negative cues from US markets overnight. Back home, all the sectoral indices on the BSE were trading in red led by Metal, Realty, Auto, Consumer Durables and Consumer Disc.  

The BSE Sensex is currently trading at 76354.47, down by 1141.89 points or 1.47% after trading in a range of 76258.86 and 77014.21. There was 1 stock advancing against 29 stocks declining on the index.

The top losing sectoral indices on the BSE were Metal down by 2.05%, Realty down by 1.95%, Auto down by 1.91%, Consumer Durables down by 1.89% and Consumer Disc down by 1.87%, while there were no gainers. 

The only gainer on the Sensex was Bajaj Finance up by 1.68%. On the flip side, Eternal down by 3.96%, Hindustan Unilever down by 3.85%, Interglobe Aviation down by 3.80%, Mahindra & Mahindra down by 2.98% and Axis Bank down by 2.76% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) has said that bank credit growth in India slowed to 14.88 per cent year-on-year (YoY) in the fortnight ended April 15, 2026 as compared to 15.96 per cent growth recorded in the previous fortnight ending March 31, 2026. Bank credit stood at Rs 214 lakh crore in the fortnight ended April 15, down from Rs 218 lakh crore in the preceding fortnight. During the reporting period, overall credit in India contracted by 2.06 per cent, or Rs 4.51 lakh crore. In the fortnight ended April 18, 2025, total credit in India stood at Rs 186 lakh crore. 

During the fortnight ended March 31, Indian bank credit grew at its fastest pace in the last two fiscal years, as banks rushed to meet their balance sheet targets ahead of the financial year-end, resulting in a sharp increase in both loans and deposits. Bank credit growth stayed firmly in double digits for over seven consecutive months, reflecting sustained momentum in lending activity. The acceleration in credit expansion gathered pace following a significant rationalisation of the Goods and Services Tax (GST) structure, which took place around September 2025.

The continued double-digit growth indicates a revival in credit demand from both retail borrowers and corporates in recent months, underscoring improving economic activity and stronger financing needs across sectors.

On the other hand, deposits of banks grew 12.12 per cent year-on-year in the fortnight ended April 15. In absolute terms, deposits stood at Rs 261.88 lakh crore for the fortnight ended April 15, 2026, as compared to Rs 233.56 lakh crore in the fortnight ended April 18, 2025. For the fortnight ended April 15, 2026, investments by banks in state and central government securities rose to Rs 70.64 lakh crore, up from Rs 68.49 lakh crore a year earlier.  

The CNX Nifty is currently trading at 23831.65, down by 346.00 points or 1.43% after trading in a range of 23796.85 and 24019.15. There were 3 stocks advancing against 47 stocks declining on the index.

The few gainers on Nifty were Bajaj Auto up by 2.28%, Bajaj Finance up by 1.66% and Coal India up by 1.23%. On the flip side, Eternal down by 3.95%, Hindustan Unilever down by 3.78%, Interglobe Aviation down by 3.71%, Mahindra & Mahindra down by 2.95% and Axis Bank down by 2.82% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 743.46 points or 1.24% to 59,174.00, Taiwan Weighted lost 376.87 points or 0.97% to 38,926.63, Jakarta Composite plunged 174.68 points or 2.52% to 6,926.55, KOSPI dropped 63.02 points or 0.95% to 6,627.88 and Hang Seng declined 311.84 points or 1.19% to 25,800.00. However, Straits Times rose 24.94 points or 0.51% to 4,885.91 and Shanghai Composite strengthened 5.38 points or 0.13% to 4,112.89. 
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