At 09:30 IST, the barometer index, the S&P BSE Sensex declined 307.36 points or 0.40% to 77,536.89. The Nifty 50 index lost 94.40 points or 0.38% to 24,229.40.

The broader market outperformed the frontline indices. the BSE 150 MidCap Index added 0.09% and the BSE 250 SmallCap Index rallied 0.46%.

The market breadth was positive. On the BSE, 1,725 shares rose and 1,272 shares fell. A total of 176 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 340.89 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 441.07 crore in the Indian equity market on 07 May 2026, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.46% to 6.965 compared with previous session close of 6.933.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.4100 compared with its close of 94.2200 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement rose 0.30% to Rs 152,706.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 98.110.

The United States 10-year bond yield shed 0.05% to 4.391.

In the commodities market, Brent crude for June 2026 settlement gained $1.05 or 1.05% to $101.11 a barrel.

Stocks in Spotlight:

Sonata Software surged 7.30 after the company reported a 25.05% jump in consolidated net profit to Rs 130.50 crore despite a 17.67% decline in revenue from operations to Rs 2536.19 crore in Q4 FY26 over Q3 FY26.

Bombay Stock Exchange (BSE) shed 0.40%. The company reported 61.27% jump in consolidated net profit to Rs 797.33 crore on 84.67% surge in revenue from operations to Rs 1563.51 crore in Q4 FY26 comapred with Q4 FY25.

Dabur India added 0.88%. The company reported a 15.14% jump in consolidated net profit to Rs 368.60 crore on 7.35% increase in revenue from operations to Rs 3038.02 crore in Q4 FY26 over Q4 FY25.

Lupin slipped 0.75%. The company reported an 88.87% jump in consolidated net profit to Rs 1,460 crore on 31.90% increase in revenue to Rs 7,475 crore in Q4 FY26 over Q4 FY25.

Global Market:

Asia-Pacific markets traded lower Friday, as concerns grew over renewed hostilities between Iran and the U.S. amid a fragile ceasefire.

The U.S. and Iran traded fire in the Strait of Hormuz, with each side claiming the other initiated the attack.

Despite the escalation, President Donald Trump has reportedly insisted that the ceasefire remains in effect, saying the strikes are 'just a love tap'.

Trump later claimed in a social media post that the U.S. completely destroyed' the Iranians involved in the exchange, which he said included small boats and drones that 'dropped ever so beautifully down to the Ocean, very much like a butterfly dropping to its grave!' He reportedly reiterated that Iran will face further attacks if they do not agree to a nuclear deal.

Overnight on Wall Street, the S&P 500 fell on Thursday after hitting a new all-time intraday high as oil prices came back from sizable losses, with traders eyeing more developments between the U.S. and Iran.

The broad market index fell 0.38% to close at 7,337.11, dragged lower by losses in Amazon as well as semiconductor stocks such as Broadcom and Micron Technology.

The Nasdaq Composite slid 0.13% and ended at 25,806.20. The tech-heavy index had also scored a fresh all-time high during the session. The Dow Jones Industrial Average shed 313.62 points, or 0.63%, settling at 49,596.97.

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