Indian equity markets witnessed sharp declines on Friday (May 8, 2026) as escalating geopolitical tensions in West Asia and rising oil prices weighed heavily on investor sentiment. According to The Hindu, the BSE Sensex declined 353.50 points to 77,491.02 in early trade, while the NSE Nifty dropped 109.25 points to 24,225.20. The markets further deteriorated with the BSE benchmark falling 536.66 points to 77,331.75 and the Nifty trading 166.95 points down at 24,170.80. From the 30-Sensex firms, Mahindra & Mahindra, Axis Bank, HDFC Bank, Eternal, Bajaj Finance and Tata Steel were among the laggards, while Asian Paints, Tech Mahindra, Adani Ports and HCL Tech were among the winners. Brent crude, the global oil benchmark, traded 1.19% higher at $101.3 per barrel, adding to market concerns.
Around 90 companies are scheduled to release their financial results for the quarter ended March 31, 2026 on Thursday, May 7. According to reports from The Hindu BusinessLine, the marquee companies include BSE Limited, Britannia Industries, Bharat Forge, Lupin, Bajaj Holdings & Investment, MRF, and Dabur India. The earnings season continues with these companies providing insights into their March quarter performance across various sectors. As reported by The Hindu BusinessLine, the BSE Sensex ended 114 points or 0.15% lower at 77,844.52 on Thursday, while the Nifty dipped 4.30 points or 0.02% to end at 24,326.65.
According to brokerage firm Motilal Oswal, Bharat Forge's Q4 results are expected to show improved EBITDA margin of 27.6% as benefits from favorable currency are likely to offset rising cost pressure. The firm anticipates standalone profit after tax and revenue to grow 9% year-on-year in the March quarter. As reported by The Hindu BusinessLine, growth is expected to be driven by pickup in commercial vehicles and defense business in domestic operations, while export growth will be supported by US Class8 pickup.
Brokerage firm Kotak Institutional Equities estimates improvement in volume growth to +7% YoY aided by grammage hikes in LUPs (65% sales mix) and some recovery in market share. According to The Hindu BusinessLine, the firm expects consolidated revenue growth of 10.8% YoY versus 8.2% YoY in 3QFY26. OOI is estimated to decline 48% YoY to ₹296 million due to lower state government grants, while the company anticipates 4.5% YoY price-mix growth leading to 11.5% YoY revenue growth.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹340.89 crore on Thursday (May 7, 2026), according to exchange data, adding to market pressure. As reported by The Hindu, Ponmudi R, CEO of Enrich Money, noted that "Indian equity markets are expected to remain cautious and highly sensitive to news flow, as escalating geopolitical tensions in West Asia continue to weigh heavily on investor sentiment despite periodic relief rallies." The contrast between military confrontation and diplomatic messaging has kept investors on edge, curbing risk appetite and reinforcing a defensive undertone across global financial markets. In Asian markets, South Korea's benchmark Kospi, Japan's benchmark Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading lower.
