TLDR
Market Recap: May 08, 2026
On May 08, Indian equities fell for a second straight session as renewed US-Iran hostilities pushed crude back above $100 and hit risk appetite. Sensex closed at 77,328.19, down 516.33 points or 0.66%, while Nifty 50 ended at 24,176.15, down 150.50 points or 0.62%. Small caps outperformed with a 0.2% rise, midcaps slipped 0.2%, and India VIX gained around 2% to 16.92.
Key Drivers :
Crude whiplash: Brent above $100 revived macro and margin worries.
Broader split: Small caps rose 0.2%, while midcaps slipped 0.2%.
FII caution: Foreign investors sold equities for a third straight session.
Today’s Top Stories:
SBI misses estimates: Treasury losses hurt earnings, and the stock punished the miss hard.
Titan jumps: Jewellery demand stayed resilient, but rising gold prices still pressured margins.
Hyundai targets growth: Profit fell, yet tax-cut demand and capacity plans kept the outlook constructive.
Swiggy narrows loss: Food delivery strengthened, while Instamart scale helped narrow losses meaningfully.
MCX profit soars: Commodity volumes powered a blockbuster quarter and triple-digit profit surge.
Market Snapshot
CNBC
Nifty 50 Index Heatmap
Trading View
Top Gainers & Losers
Trading View
TOP STORIES
1. SBI misses estimates as treasury income slumps
Gemini-2.5
Profit miss: Standalone profit rose 5.6%, but missed Street estimates.
Treasury drag: Treasury income collapsed as bond yields and forex curbs hurt.
Market reaction: Shares fell 6.7%, their steepest fall in nearly two years.
2. Titan jumps as jewellery demand offsets margin pressure
Gemini-2.5
Profit growth: Net profit rose 35%, though it still missed analyst estimates.
Jewellery engine: Product sales jumped 48%, led by domestic jewellery strength.
Market reaction: Shares closed nearly 5% higher after the result.
3. Hyundai targets sales growth despite profit decline
Gemini-2.5
Profit pressure: Q4 profit fell 22.2% as expenses rose faster.
Demand outlook: Management expects domestic sales growth of 8%-10% this fiscal.
Capacity plan: Talegaon capacity will double to 320,000 units by FY27.
4. Swiggy narrows loss as food delivery accelerates
Gemini-2.5
Loss repair: Consolidated loss narrowed about 25% to Rs 800 crore.
Food momentum: Food delivery GOV rose 23% to Rs 9,005 crore.
Instamart scale: Quick-commerce GOV jumped 68.8%, with margins improving sequentially.
5. MCX profit soars 291% as revenue triples
Gemini-2.5
Profit surge: Consolidated PAT jumped 291% YoY to Rs 530 crore.
Revenue boom: Operations revenue rose 205% to Rs 889 crore.
Dividend signal: Board recommended a Rs 8 per share final dividend.
GYAANI HOT TAKES
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