08-May-2026
2 mins read
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Nifty 50 today slips below 24,200; Sensex today closes down 550+ points as Brent crude rebounds above $101 after Hormuz fire exchange; SBI misses estimates, Titan hits 52-week high
Indian equity markets ended the week on a cautious note on Friday, May 8, 2026, reversing mid-week gains as geopolitical tensions returned to centre stage. The US and Iran exchanged fire in the Strait of Hormuz, fanning fears that the fragile ceasefire was unraveling and threatening continued disruption to shipping via one of the world's most critical oil routes. This spooked Dalal Street, pulling the Nifty 50 today and Sensex today sharply lower despite a strong domestic earnings day.
Nifty 50 Today & Sensex Today — Closing Levels, May 8, 2026
The Nifty 50 closed 150.50 points or 0.62% lower at 24,176, while the Sensex settled 516.33 points or 0.66% lower at 77,328. Coal India, HDFC Bank, and Bajaj Finance were the top losers in the Nifty 50.
- Nifty 50 today: Closed at 24,176 — slipped below the key 24,200 mark
- Sensex today: Settled at 77,328 — down 500+ points; recovered
- Previous close (May 7): Sensex had declined 114 points to 77,844.52; Nifty closed nearly flat at 24,326.65
- Nifty Bank today: Nifty Private Bank, Nifty PSU Bank, and Nifty Auto underperformed
- Broader market: Nifty MidCap was down 0.34%, while Nifty SmallCap was up 0.26%, reflecting selective resilience beneath the surface
Key Factors Driving Today's Market Decline
1. Renewed US-Iran Fire Exchange in Strait of Hormuz
The dominant negative trigger was a sharp re-escalation of the US-Iran conflict. Washington and Tehran accused each other of initiating attacks in the Strait of Hormuz, further straining a ceasefire already weakened by repeated allegations of violations — even as Iran was reportedly reviewing a US proposal to end the war. Trump insisted the ceasefire remained in effect, calling the strikes "just a love tap," but markets were not reassured.
2. Brent Crude Rebounds Above $101 — India Back in the Crossfire
Brent crude traded around $101.20 a barrel (up 1.10%), while WTI rose 1.85% to $96.66. Both benchmarks had gained over 3% during the session before paring some gains. For India — which imports over 85% of its crude requirements — this reversal after Thursday's brief dip below $100 renewed concerns around rupee depreciation, domestic inflation, rising logistics costs, and elevated airline fuel expenses.
3. Gift Nifty Signalled a Weak Open
Gift Nifty was down 0.65% ahead of trade, pointing to a cautious opening amid subdued global sentiment and mixed cues. The signal proved accurate as indices stayed under pressure through most of the session.
Major Q4 FY26 Results Today
SBI Q4FY26 — Modest Growth, Misses Estimates
State Bank of India reported a 6% rise in standalone net profit at ₹19,684 crore for Q4FY26, aided by a decline in bad loans. However, total income declined to ₹1,40,412 crore from ₹1,43,876 crore in the year-ago period — missing Street estimates and triggering a sharp sell-off in the stock. On the positive side, the board declared a dividend of ₹17.35 per equity share for FY26, with the record date set for May 16, 2026, and payment date June 4, 2026.
Titan Q4FY26 — Blockbuster Quarter, 52-Week High
Titan's PAT jumped 35% YoY to ₹1,179 crore, while consolidated total income surged 46% to ₹20,300 crore. Its jewellery portfolio grew 50% to ₹18,195 crore, excluding bullion and digi-gold sales, reflecting sustained consumer confidence despite elevated gold prices. Shares surged over 6% to hit a 52-week high of ₹4,585 on the NSE.
Other Notable Results
- BSE Ltd — Consolidated net profit up 61% YoY to ₹797.33 crore for Q4FY26
- Kalyan Jewellers — Net profit up 116.36% YoY to ₹405.9 crore in Q4FY26
FAQs: Nifty 50 Today & Sensex Today — May 8, 2026
1. Why did Nifty 50 fall today?
Renewed US-Iran fire exchange in the Strait of Hormuz reversed peace deal optimism, pushing crude oil above $101 and triggering risk-off selling across indices.
2. What is the Nifty 50 closing today?
The Nifty 50 closed at 24,164.20, down 165.45 points (0.68%).
3. What is the Sensex closing today?
The BSE Sensex settled at 77,290.46, declining 556.71 points (0.72%).
4. How did SBI Q4FY26 results perform?
SBI posted net profit of ₹19,684 crore (+5.6% YoY), but missed analyst estimates. A dividend of ₹17.35/share was declared.
5. Why did Titan hit a 52-week high today?
Titan's Q4FY26 PAT surged 35% YoY to ₹1,179 crore with revenue up 46%, driving the stock to a new 52-week high of ₹4,585.
Conclusion: Nifty 50 and Sensex Today Outlook
Today's close confirms that the geopolitical situation in West Asia remains the primary variable for Indian markets. The Nifty continues to consolidate in the 23,800–24,400 band — a close above 24,400 would open the path to 24,600 and beyond, while failure to do so keeps the range intact. Domestically, the earnings season is delivering solid numbers — Titan's blockbuster quarter and strong prints from BSE Ltd and Kalyan Jewellers confirm healthy consumer demand. Next week, all eyes remain on Hormuz developments, crude oil direction, and key results from Bank of Baroda and other PSU lenders.
Disclaimer: This article is for informational purposes only and is based on publicly available data. It does not constitute investment advice, recommendation, or an offer to buy or sell any securities. Investments in the securities market are subject to market risks. Readers are advised to conduct their own research or consult a qualified financial advisor before making any investment decisions.