ewsba.se
Indian equities came under pressure in Friday's trade, May 8, with both headline indices falling over 0.50% amid renewed geopolitical concerns following reported Iran-US clashes near the Strait of Hormuz.
The Nifty 50 ended the session 0.55% lower at 24,193, while the Sensex closed at 77,321, down 0.67% from the previous close. Despite fluctuating widely, both indices ended the week with gains of over 0.70%.
The broader markets closed mixed, with the Nifty Smallcap 100 index rising 0.22%, while the Nifty Midcap 100 index slipped 0.15%.
Indian equities fell on May 8 due to renewed geopolitical concerns following reported Iran-US clashes near the Strait of Hormuz. The Nifty 50 ended 0.55% lower and the Sensex closed 0.67% down.
SBI, Urban Company, and Britannia were among the top losers. SBI shares fell after reporting March quarter numbers below estimates, while Britannia Industries shares declined following its Q4 earnings. Urban Company's stock continued its losing streak.
Thermax, Firstsource Solutions, and Nuvama Wealth Management were among the top gainers. Firstsource Solutions surged on renewed buying interest, Thermax shares rose on better-than-expected performance, and Nuvama Wealth Management extended its climbing trend.
The reported clashes between US and Iranian forces near the Strait of Hormuz caused Brent crude futures to rise above $100 a barrel. This geopolitical instability also led to a cautious sentiment in global financial markets.
CCL Products India reported a 12.4% year-on-year increase in consolidated net profit to ₹115 crore for the fourth quarter. Britannia Industries posted a 21.6% YoY increase in consolidated net profit to ₹679.68 crore for the same period.
US and Iranian forces reportedly clashed in the Gulf, while the United Arab Emirates came under renewed attack. However, President Donald Trump said a ceasefire was still holding despite the flare-up.
The escalation came as Washington awaited Tehran's response to a US proposal aimed at ending the war, while Iran said on Thursday that it was still reviewing the latest American proposals to end the conflict.
Investors are closely monitoring the situation as negotiations between the US and Iran to end the war continue to make limited progress. Following the latest clashes, Brent crude futures rose above $100 a barrel, while world shares retreated from recent gains.
CCL Products India shares crashed 7% to ₹1,123 apiece after investors were disappointed with the company’s March quarter performance, while weaker-than-expected results from Aditya Birla Real Estate also dragged the stock down 6.6%.
State Bank of India shares, too, witnessed heavy selling pressure, falling 6.7% to ₹1,018 apiece after the lender reported March quarter numbers below estimates amid weaker operating profitability.
Meanwhile, the sell-off in Urban Company intensified further, with the stock tumbling another 4.75% to ₹139 apiece, extending its losing streak to the fourth consecutive session.
Following its Q4 earnings, Britannia Industries shares also came under significant pressure, declining 5% to ₹5,516. Besides, the sustained rally in HFCL came to a halt as investors booked profits, dragging the stock down 4.5% to ₹139.
Extending losses for the fourth straight day, City Union Bank shed another 4% to settle at ₹258.95 apiece. Among Tata group stocks, Tejas Networks, Voltas, and Tata Chemicals closed lower with losses of over 3%. Vedanta also ended the session down 3%.
On the gaining side, Firstsource Solutions witnessed renewed buying interest, with the stock surging 16.6% to ₹274 apiece, while Jain Resource Recycling also posted a strong gain of 13.4% to ₹571.5 apiece.
Better-than-expected performance pushed Thermax shares up 12%, while the buying momentum in Nuvama Wealth Management extended into the fourth straight session, with the stock climbing another 10.65% to ₹1,631.50 apiece.
Strong operating performance also led to a 10% jump in Sonata Software shares. Other technology stocks such as Coforge, Hexaware Technologies, eClerx Services, Netweb Technologies, and Persistent Systems recorded gains ranging between 2.6% and 6.5%.
FMCG major Dabur India advanced 3.8% to ₹487.7 apiece after the company reported a better-than-expected Q4 performance, while Kalyan Jewellers India also reacted positively to its quarterly numbers, settling 3.3% higher at ₹424.6 apiece.
Other notable gainers included Vijaya Diagnostic Centre, Berger Paints, Olectra Greentech, Piramal Finance, Finolex Cables, Titan Company, JBM Auto, and Timken India, all of which closed with gains of over 5%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.