Market Updates: Sensex drops 494 points, Nifty slips 142 points; Rupee weakens

April 22, 2026

Following a three-day rally, benchmark equity indices—the Sensex and Nifty—recorded a decline in early trade on Wednesday, driven by heavy selling in IT stocks. In early trading, the Sensex fell 494.12 points to 78,779.21, while the Nifty dropped 142.2 points to reach 24,434.40.

Amid uncertainties surrounding the Middle East peace accord and pressure from elevated crude oil prices, the Rupee depreciated by 31 paise against the US Dollar to 93.75 in early trade, remaining weak for the third consecutive session.

Among the 30 Sensex constituents, shares of HCL Tech tumbled nearly 9 percent after its March quarter results failed to impress investors.

On Tuesday, HCL Tech reported a consolidated net profit of ₹4,488 crore for the March quarter of the 2026 fiscal year, marking a year-on-year increase of 4.20 percent. However, management expressed apprehension regarding a highly volatile demand environment—attributed to a slowdown in discretionary spending—and projected a growth rate of 1-4 percent for the 2027 fiscal year.

Tech Mahindra, Infosys, Tata Consultancy Services, ICICI Bank, and Asian Paints were also among the top laggards. NTPC, Hindustan Unilever, Trent, and Tata Steel were among the gainers.

Mixed Trends in Asian Markets
Across Asian markets, South Korea’s benchmark Kospi and Hong Kong’s Hang Seng Index were trading lower, while Japan’s Nikkei 225 Index and Shanghai’s SSE Composite Index were trading in positive territory. US markets closed lower on Tuesday. Brent Crude Prices Fall to $98.20 Per Barrel

The global oil benchmark, Brent crude, was trading at $98.20 per barrel in futures trading, down 0.28 percent. Analysts state that crude oil prices had risen above the $98 per barrel mark after US President Donald Trump threatened to bomb Iran if a peace agreement was not reached before Wednesday.