Stock market news, May 3 -- The key domestic market indices, Nifty 50 and Sensex, partially recovered from the significant March selloff, with some gains in April, but the drop on Thursday revealed ongoing vulnerability, as rising oil prices and a declining rupee dampened market sentiment.

The Nifty 50 dropped 0.74% to 23,997.55, while the BSE Sensex fell 0.75% to 76,913.50, and the rupee reached an all-time low following an increase in crude oil prices and a more aggressive stance from the U.S. Federal Reserve.

Indian markets were closed on Friday for a holiday and will reopen on Monday, May 4.

Brent crude surged to nearly $126 a barrel during the trading session, marking a four-year high, after Axios reported that the U.S. military w...