
Sensex, Nifty 50 | Stock Market Highlights: The Indian stock market closed in the red on Thursday, as investors weighed the US-Iran deal and as crude oil prices remained close to $105 per barrel.
BSE Sensex ended the volatile session on a flat but negative note as it shed 114 points or 0.15% to 77,844.52. Meanwhile, Nifty 50 closed the session largely unchanged at 24,326.65, down 4.30 points or 0.02%.
Broader markets gained, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices rising 0.80-1%.
Among sectors, Nifty Auto, Nifty Media, Nifty Metals, and Nifty Pharma witnessed gains, while Nifty FMCG, Nifty IT and Nifty PSU Banks declined.
Cautiousness over the volatility in the crude oil prices and ongoing Q4 results kept a check on gains.
Globally, Asian markets traded mixed, with Japan’s Nikkei hitting record high, while the US stock market ended higher overnight, with the S&P 500 and Nasdaq surging to record-high closes.
US President Donald Trump predicted that the war in Iran will be over quickly. Iranian foreign ministry spokesman Esmaeil Baqaei told local media that the “US plan and proposal are still under review.” Reports said that Iran has also laid out an updated process for ships seeking to transit Strait of Hormuz.
Gold prices rose for a third straight session, supported by a softer dollar as hopes grew for a potential peace deal between the United States and Iran.
Spot gold price gained 0.3% to $4,701.19 per ounce, after rising about 3% on Wednesday to hit its highest level since April 27. US gold futures for June delivery rose 0.4% to $4,710. Spot silver price rose 0.5% to $77.68 per ounce.
Stay tuned to this segment for live updates on Indian stock market today.
Domestic equities swung between gains and losses amid mixed global cues, even as the rupee strengthened. Selective risk appetite was evident in pockets of the market, with mid and small caps outperforming large caps. Reports of a potential US–Iran agreement to gradually reopen the Strait of Hormuz pushed crude below $100 per barrel, easing near-term inflation concerns. However, optimism faded quickly amid uncertainty around nuclear enrichment discussions, triggering profit booking. Sectorally, auto, healthcare, and financial services witnessed gains, while IT and FMCG declined. Going ahead, Q4 earnings and management guidance will remain key drivers of sentiment, though markets are likely to stay volatile until clearer signals emerge from West Asia.
— Vinod Nair, Head of Research, Geojit Investments Limited
Sectorally, IT, FMCG and PSU Bank faced selling pressure, as they declined 0.49% to 0.77% today. On the flip side, Nifty Auto index was the top gainer as it surged almost 2%. Nifty Bank also ended in the green and Nifty Realty added 0.63%.
The broader markets outshone the benchmark indices as the Nifty Midcap 100 index jumped 1.10% and the Nifty Smallcap index closed 0.87% higher.
BSE Sensex ended the volatile session on a flat but negative note as it shed 114 points or 0.15% to 77,844.52. Meanwhile, Nifty 50 closed the session largely unchanged at 24,326.65, down 4.30 points or 0.02%.
“Board of Directors of the Company to acquire 100% equity stake of Kandla GHA Transmission Limited (“KGTL”), from PFC Consulting Limited (“PFC”), for an aggregate consideration not exceeding Rs. 20 crore, in accordance with the terms of the tender awarded to the Company,” RIL said
The Reserve Bank of India (RBI) faces two conflicting objectives before its next interest rate decision in June, as the economy grapples with a potential double shock from energy prices and uncertain weather patterns, said Pranjul Bhandari, Chief India & ASEAN Economist at HSBC. (Source: ANI)
InCred Holdings Ltd, primarily operating through its material subsidiary InCred Financial Services Ltd, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI), moving a step closer to its proposed initial public offering (IPO).
The offer consists of a new issuance of equity shares totalling up to ₹1,250 crores, along with an offer for sale (OFS) of up to 99,020,833 equity shares. This OFS involves various shareholders, including KKR India Financial Investments Pte. Ltd., MNI Ventures, MEMG Family Office LLP, and V’Ocean Investments Ltd., among others.
Bharat Forge Q4 Results (YoY)
> Net profit falls 17.4% to ₹232.5 crore from ₹282.6 crore
> One-time loss at ₹98.7 crore versus ₹5 crore
> Revenue rises 17.5% to ₹4,528 crore from ₹3,853 crore
> EBITDA grows 14.3% to ₹778 crore from ₹681.3 crore
> Margin falls to 17.2% from 17.7%
> Board approves final dividend of ₹6.5 per share For FY26
Godrej Properties, NCC and Adani Energy Solutions were among the major stocks that witnessed an increase in promoter stake during the quarter ended March 2026, while Aditya Infotech, Netweb Technologies India, Urban Company and Bharat Heavy Electricals Ltd. (BHEL) were among the companies that saw a decline in promoter holdings during the period.
Promoter ownership trends remained largely mixed across sectors. According to data compiled by Elara Capital, promoters increased their stakes in sectors such as banking, energy, financials, FMCG, industrials, media, real estate and sugar during the March 2026 quarter. Read here
IIFL Capital share price jumped as much as 6% after the company announced it would issue preferential shares to Fairfax India. In an exchange filing dated 7 May, IIFL Capital said that Fairfax India will increase its shareholding, through its wholly owned subsidiary, FIH Mauritius Investments, by capital infusion of ₹2,000 crore.
The prospects of a potential peace deal between the US and Iran have boosted stock market sentiment. Benchmark Nifty 50 reclaimed the 24,400 mark in intraday trade on Thursday, 7 May. The index looks set to extend gains for the second consecutive week. From the April 2 low of 22,182.55, the benchmark index has jumped 10%.
The current setup of the Indian stock market appears mildly positive, supported by positive global cues and a decline in crude oil prices, even as the persisting uncertainty about a final US-Iran peace deal keeps volatility elevated.
Polycab India share price jumped over 6%, following the electrical products manufacturer’s strong performance in the March quarter. For the quarter ending 31 March 2026, Polycab India reported consolidated revenue of ₹8,865 crore, reflecting a 27% year-on-year increase compared to the same period from the previous year.
Craftsman Automation Q4 Results (YoY):
> Net profit jumps 74.4% to ₹116.4 crore from ₹66.8 crore
> Revenue rises 27.3% to ₹2,226.4 crore from ₹1,749.3 crore
> EBITDA up 47.2% to ₹358.5 crore from ₹243.6 crore
> Margins improves to 16.1% from 13.9%
CarTrade Tech Q4 Results (YoY):
> Net profit jumps 53.8% to ₹64.6 crore from ₹42 crore
> Revenue rises 19.8% to ₹203 crore from ₹169.5 crore
> EBITDA grows 55% to ₹71.4 crore from ₹46 crore
> Margin improves to 35.2% from 27.2%
Gold and silver prices in India traded higher, following gains in international bullion prices. MCX gold rate were trading higher by ₹818, or 0.54%, at ₹1,52,950 per 10 grams. MCX silver price was up by ₹4,171, or 1.65%, at ₹2,57,436 per kg.
Bank Nifty faces crucial resistance at 56,800 – 57,000 band, and a sustained move above this range could strengthen momentum further toward the 57,500 – 58,000 levels. On the downside, the 55,400 – 55,200 zone is expected to act as immediate support, and holding above this range will remain important to sustain the ongoing recovery trend.
Overall, the undertone remains mildly positive with a cautious bias, while sustained buying above resistance levels is required to confirm continuation of the upward momentum, said Ponmudi R.
Bajaj Auto’s Q4FY26 operational performance surpassed ICICI Securities’ estimate. Growth in the domestic motorcycle industry is expected to moderate to ~7–9% in the near term due to price hike(s), manpower migration and weakening consumer sentiment. However, demand momentum in international markets remains robust for both two-wheelers and three-wheelers.
Outlook for domestic three-wheeler volume remains healthy led by rising EV penetration. Commodity inflation is expected to weigh on margins in the near-term. Over the medium term, margins are likely to draw support from favourable mix/forex, higher operating leverage; and improving EV profitability, ICICI Securities said.
The brokerage firm maintained a ‘Buy’ rating and raised Bajaj Auto share price target to ₹12,000 from ₹11,150 earlier, based on 25x FY28E EPS.
Bharat Electronics announced that the meeting of its Board of Directors is scheduled to be held on Tuesday, 19 May 2026, to consider and approve, Audited Standalone & Consolidated Financial Results for the quarter and year ended 31st March, 2026 and also to consider recommendation of Final Dividend for the financial year 2025-26/
Nifty 50 failed to sustain above the 24,400 level in early trade, indicating resistance at higher levels. From a technical perspective, sustaining above 24,400 remains crucial to maintain upward momentum toward the next major hurdle at 24,600. A sustained breakout above this zone could further extend the upmove toward the 24,800 – 25,000 levels. On the downside, the 24,100 – 24,000 zone continues to act as immediate support, which remains important to preserve the current positive structure, said Ponmudi R, CEO of Enrich Money.
Voltamp Transformers share price fell over 6%, extending its decline for the third consecutive session. The stock dropped as much as 6.35% to ₹9,366.00 apiece on the NSE.
Voltamp Transformers order book stood at ₹1,200 crore (10,270 MVA) while order inflow stood at ~ ₹2,320 crore for FY26. Profitability impacted due to rupee depreciation (raising imported RM costs), higher critical component prices, and elevated T-oil costs amid Middle East war tensions.
PL Capital revised its FY27-28 EPS estimates by -10.1%/ -3.9% and downgraded its rating on Voltamp Transformers shares from ‘Buy’ to ‘Accumulate’ factoring in margin pressures from legacy orders and supply-chain constraints. It raised Voltamp Transformers share price target to ₹10,503 from ₹10,312 earlier.