Stock Market Today: Nifty Ends Below 24,200 Amid Renewed US-Iran Tensions

May 8, 2026, Indian Stock Market Today | The Indian equity benchmarks, BSE Sensex and Nifty 50, extended their losing streak for a second session on Friday, May 8, 2026.

Despite a late-session recovery attempt led by IT and Consumer Durables, selling pressure in heavyweight Banking and Financial stocks kept the bears in control.

At the Closing Bell:

• BSE Sensex: Declined 516 points to end at 77,328
• Nifty 50: Slipped 151 points to close at 24,176
• Nifty Bank: Fell 737 points to finish at 55,311

Midcap & Smallcap Performance

The broader market continued to outperform the benchmarks.

• Nifty Midcap: Slipped just 0.15% to close at 61,911
• Nifty Smallcap: Gained 0.22% to finish at 18,737

Why Did the Indian Stock Market Fall Today?

The fall was driven by a combination of disappointing corporate earnings and escalating geopolitical tensions.

• SBI Share Price Crash: The Nifty PSU Bank index tumbled 3.06% after State Bank of India (SBI) reported a shrinkage in Net Interest Margins (NIM) for the March quarter. SBI shares crashed 7%, dragging down peers like Bank of Baroda and Axis Bank.
• Geopolitical Tensions: A "risk-off" sentiment gripped the markets following reports of US–Iran military action near the Strait of Hormuz. While President Donald Trump suggested a ceasefire remains in effect, the uncertainty triggered heavy profit booking.
• Rupee Depreciation: The Indian Rupee (INR) weakened by 23 paise, closing at 94.48 per dollar, adding pressure on domestic sentiment.
• Crude Oil: Brent Crude prices eased slightly but remained volatile near the $100 per barrel mark due to Middle East tensions.

Market Snapshot: Indices at a Glance

Key Nifty Indices

Sectoral Performance

Nifty Gainers & Losers

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 93 points lower at 24,233.65, reached a high of 24,253.80 and closed at 24,176.15.

• Immediate Support: 24,120
• Immediate Resistance: 24,250

BANK NIFTY: Opened 263.45 points lower at 55,783.95, reached a high of 55,797.70 and closed at 55,310.55.

• Immediate Support: 55,000
• Immediate Resistance: 55,600

Top Trending Stocks Today

• Thermax: Stock surged nearly 12% after the company reported a strong Q4 performance, with net profit rising 18.7% to ₹244 crore.
• Sonata Software: Stock jumped nearly 10% after Q4 net profit grew 25% YoY to ₹131 crore. Revenue also rose 4% YoY to ₹3,613 crore.
• Titan Company: Stock gained nearly 5% after Q4 net profit climbed 35% YoY to ₹1,179 crore, supported by a strong 46% YoY jump in total income to ₹20,300 crore.

Also Read: BSE Q4 Results: Profit Up 61%; ₹10 Dividend Declared

World Markets, Crude & Gold Prices

• Global Equities: Asian and European markets were mostly weak as escalation in the US-Iran conflict lifted oil prices and weighed on hopes of a near-term diplomatic resolution.
• Crude Oil: Oil prices pared early gains on Friday. Brent crude futures were up 22 cents at $100.28 per barrel.
• Gold Prices: The yellow metal rose on Friday and was on course for a weekly gain as markets tracked optimism around a potential US-Iran peace agreement.

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.