The Indian stock market experienced a significant downturn on Friday, with the Sensex plummeting 999.79 points, or 1.29%, to close at 76,664.21 and the Nifty 50 dropping 275.10 points, or 1.14%, to 23,897.95. This decline was largely attributed to rising crude oil prices, which are currently trading between $105 and $108 per barrel, and escalating tensions between the US and Iran, raising concerns over potential supply disruptions in the Strait of Hormuz.

Despite the steep losses, the market may see a rebound, as indicated by the Gift Nifty index, which is trading near 24,108, suggesting a premium of about 185 points over the previous Nifty futures close. Analysts predict that Indian equity markets will remain cautious and volatile due to ongoing geopolitical uncertainties.

Among the stocks to watch for Monday, April 27, are Reliance Industries, which reported a 13% year-on-year decline in its consolidated net profit for Q4, amounting to ₹16,971 crore. Paytm has faced significant challenges, as the Reserve Bank of India revoked the banking license of its associate entity, Paytm Payments Bank, effective April 24, halting its banking operations. Other notable companies include Axis Bank, which reported a slight profit decline of 0.64%, and IDFC First Bank, which saw a 5% increase in net profit. NTPC is also making headlines with plans to invest ₹25,000 crore in establishing nuclear power units in Bihar's Banka district.