The Indian rupee hit a record low of 95.20 against the US dollar today. Rising global crude oil prices and a stronger US dollar are pressuring the currency. Concerns over West Asia also impact investor sentiment. Foreign investors continue to sell Indian equities. The domestic stock market also saw a decline.
Global oil prices have soared past $120, reaching their highest point since 2022. This surge is driven by fears of prolonged supply disruptions stemming from a US blockade of Iran and its impact on the vital Strait of Hormuz. Adding to market jitters, the UAE’s exit from OPEC introduces further uncertainty regarding global energy supply
Top stock market recommendations: Lodha Developers, Premier Energies, and HDFC Asset Management Company have been picked by Aakash K Hindocha, Deputy Vice President – WM Research, Nuvama Professional Clients Group as the top stocks to buy on April 30, 2026. He shares his target levels and also outlook for indices Nifty and Bank Nifty.
