Prime End of the Day Summary: View on Market Performance 8 May 2026

Nifty Slides 150 Points Amid Weak Global Cues; Broader Markets Outperform

Nifty snapped its recent pattern of alternating gains and losses, slipping for a second straight session to close 150 points lower at 24,176. The index opened weak, down 93 points, and remained under consistent selling pressure through the day, with intraday pullbacks failing to surpass early morning highs. Despite the decline, Nifty still managed to end the week with a modest gain of 0.74%. NSE cash market turnover cooled off, declining 4% compared to the previous session.

Titan, Apollo Hospitals, and Asian Paints led the gains on the Nifty, while SBI, Coal India, and HDFC Bank were among the key laggards.

Sectoral performance remained mixed. IT, consumer durables, and FMCG sectors outperformed, whereas PSU banks, financial services, oil & gas, and metals witnessed declines.

Broader markets continued to show resilience, with midcaps and smallcaps outperforming the benchmark indices. The Nifty Midcap 100 edged down 0.15%, while the Nifty Smallcap 100 posted a 0.22% gain. However, market breadth weakened slightly, reflected in a BSE advance-decline ratio of 0.97, suggesting selective profit booking in the broader market following the recent strong rally.

The Indian rupee snapped its two-day gaining streak, depreciating by 23 paise to close at 94.48. The weakness followed escalating geopolitical tensions after US and Iranian forces exchanged fire near the Strait of Hormuz, raising concerns over a fragile ceasefire and potential disruptions to a key global shipping route, which pushed crude oil prices back above $100 per barrel.