The Nifty 50 dropped by more than half a per cent to fall below 24,150 while the 30-share pack Sensex declined about 600 points in the first half of the session on Friday, 8 May, as reported by Mint. The domestic market experienced selling pressure due to weak global cues, a rebound in crude oil prices, and fresh escalation in the Middle East conflict that weighed on investor sentiment. According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, the de-escalation-escalation drama in West Asia continues with crude prices moving down and up in response, with some markets doing extremely well while others are performing poorly amidst this geopolitical tension.
Vodafone Idea emerged as the most traded stock with over 32 crore shares changing hands during the session, as reported by Mint. The telecom stock has jumped 12% this week after the government reduced its AGR liability by approximately 27%, or ₹23,649 crore, bringing the total dues down to ₹64,046 crore after reassessment. On May 5, the company announced the appointment of Kumar Mangalam Birla as the non-executive chairman of the board of directors with immediate effect. GTL Infrastructure traded with over 8 crore shares while the stock declined more than 3% during the session, with the stock having surged 15% for the week and 14% so far in May after a stellar 26% jump in April. YES Bank traded with over 5 crore shares while the stock declined more than 1% during the session, with the banking stock having surged 13% so far this week and looking set to extend gains for the second consecutive week.
OnEMI Technology Solutions made a strong debut on the bourses, opening at ₹190 on NSE and ₹191 on BSE, representing an 11.11% premium over its issue price of ₹171 on NSE and 11.70% premium on BSE, as reported by Mint. The IPO was priced at ₹171 per share with a face value of ₹10 each. MRPL traded with more than 4 crore shares as the stock jumped 9% during the session, appearing set to end the week flat after falling 10% in the previous week. Lenskart traded with over 4 crore shares as the stock declined 3%, amid the expiry of the company's 6-month shareholder lock-in and reports of a large block deal by existing investors.
NBCC (India), HFCL, Suzlon Energy, Jaiprakash Power Ventures (JP Power), Sagility, MIRC Electronics, IFCI, Shipping Corporation of India, Meesho, HCC, and RattanIndia Power were also among the most traded stocks on the NSE, according to Mint. Firstsource Solutions, Tata Silver Exchange Traded Fund, and Tata Gold Exchange Traded Fund were also actively traded during the session. The Nifty Bank index had surged 2.63% on May 7, 2026, with YES Bank and IndusInd Bank being top performers, while major heavyweights like SBIN, Axis Bank, and HDFC Bank also provided significant support in the previous session.
According to Vijayakumar from Geojit Investments, as reported by Mint, the market is rewarding good results and punishing poor results in the ongoing Q4 results season, with positive results across market caps. He observed that there are positive results across market caps, with the market swinging between hope and fear until there is a definitive conclusion to the crisis in West Asia. The Nifty 50 rose by more than half a per cent to reclaim the 24,480 level in intraday trade on Thursday, 7 May, supported by hopes of a potential US-Iran trade deal, a decline in crude oil prices, and positive global cues, with banking, financial, auto, and metal counters witnessing healthy buying interest during that session.
