Stock Market Today: Nifty Holds 24,300, Midcap Index Hits Record High

May 7, 2026, Indian Stock Market Today | The Indian equity markets witnessed a volatile trading session on May 7, ultimately ending marginally lower.

Despite the slight dip in front-line indices, the Nifty 50 managed to stay above the crucial 24,300 level, buoyed by optimism surrounding a potential US-Iran peace deal.

While the benchmarks opened with gains, tracking the previous day's momentum, intermittent profit-booking at higher levels dragged the indices down to finish near the day's lows.

At the closing bell:

• BSE Sensex: Fell 114 points or 0.15% to settle at 77,844.52
• Nifty 50: Slipped 4.30 points or 0.02% to close at 24,326.65
• Nifty Bank: Gained 66.35 points to finish at 56,047.40

Midcap & Smallcap Outperformance

The broader market continued to show resilience, significantly outperforming the benchmarks.

• The Nifty Midcap index surged 1.1%, closing at a record high of 62,003—marking its first-ever close above the 62,000 milestone.
• The Nifty Smallcap index rose by 0.87%.
• Market Breadth: The sentiment remained bullish across the floor, with an NSE Advance-Decline ratio of 2:1, indicating two gainers for every one loser.

Geopolitical Impact: US-Iran Peace Deal Update

Investor sentiment was largely influenced by shifting headlines regarding the US-Iran conflict. US President Donald Trump expressed confidence that hostilities would conclude swiftly.

In response, Iranian Foreign Ministry spokesperson Esmaeil Baqaei confirmed that the U.S. peace proposal is currently "under review."

Additionally, reports suggest Iran has introduced an updated protocol for vessels transiting the Strait of Hormuz, a vital global oil artery, which has further eased concerns over supply chain disruptions.

Market Snapshot: Indices at a Glance

Key Nifty Indices

Sectoral Performance

Nifty Gainers & Losers

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 67.55 points higher at 24,398.50, reached a high of 24,482.10 and closed at 24,326.65.

• Immediate Support: 24,250
• Immediate Resistance: 24,400

BANK NIFTY: Opened 132.95 points higher at 56,114.00, reached a high of 56,334.15 and closed at 56,047.40.

• Immediate Support: 55,700
• Immediate Resistance: 56,350

Top Trending Stocks Today

• One97 Communications: Stock rose nearly 8% after the company reported a Q4 net profit of ₹184 crore, compared with a loss of ₹540 crore in the same quarter last year. Revenue grew 18% YoY to ₹2,264 crore.
• Polycab India: Stock jumped 7% after Q4 profit rose 7% YoY to ₹786 crore, while revenue increased 27% YoY to ₹8,865 crore.
• Ceigall India: Stock gained over 6% after Q4 net profit surged 71% YoY to ₹126.6 crore, while revenue grew 37% YoY to ₹1,386.5 crore.

World Markets, Crude & Gold Prices

• Asian Equities: Broadly positive on May 7, 2026, led by a strong AI-driven rally, with Japan’s Nikkei 225 gaining 5.6%.
• European Indices: Edged lower on Thursday, after a sharp rally in the previous session, as investors assessed the prospects of a US-Iran peace deal and tracked a fresh batch of corporate earnings.
• Crude Oil Prices: Oil prices slid further, with Brent and WTI trading around $99 and $93 per barrel, respectively.
• Gold Prices: The yellow metal climbed to a two-week high as US-Iran peace hopes weighed on the dollar and eased oil-led inflation concerns.

Turn Market Insights into Action

Discover stocks, analyze opportunities and trade securely in your own broker account with Liquide. Get expert trade setups from our research desk along with real-time market tracking and commentary.

You can also get instant stock insights and answers to your queries using LiMo, our AI-powered stock assistant.

Download the Liquide App now from the Google Play Store and Apple App Store.

This document has been issued by Liquide Solutions Private Limited for information purposes only and should not be construed as

i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or

ii) an offer to sell or a solicitation or an offer for the purchase of any of the baskets of Liquide Solutions; or

iii) investment research or investment advice. It does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and independent advice regarding the appropriateness of investing in any of the funds, securities, other investment, or investment strategies that may have been discussed or referred to herein and should understand that the views regarding future prospects may or may not be realized. In no event shall Liquide Life Private Limited and/or its affiliates or any of their directors, trustees, officers and employees be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of information/opinion herein.