Gift Nifty Today: Sensex and Nifty Set for Muted Opening Amid US-Iran Tensions | May 8, 2026

Indian benchmark indices Sensex and Nifty 50 are expected to open on a subdued note on Friday, tracking weak global cues and heightened geopolitical tensions in the Middle East. 

Investor sentiment turned cautious after fresh hostilities emerged near the Strait of Hormuz, with the United States and Iran accusing each other of violating the fragile ceasefire agreement. The uncertainty triggered a rise in crude oil prices and pressured equity markets globally. 

On Thursday, May 7, 2026, domestic equity benchmarks ended marginally lower amid cautious trading activity. The NSE Nifty 50 slipped 4 points, or 0.02%, to close at 24,327, while the BSE Sensex declined 114 points, or 0.15%, to settle at 77,845. 

Gift Nifty Signals Weak Opening 

Gift Nifty was trading 106 points, or 0.43%, lower at 24,292, indicating a negative start for Indian equity markets. 

The weakness in Gift Nifty reflects broader concerns surrounding geopolitical uncertainty and its potential impact on global economic activity and energy markets. 

Asian Markets Trade Lower 

Asian equities opened mostly lower on Friday as investors reacted to renewed tensions between the United States and Iran. 

South Korea’s Kospi declined 1.88%, while the small-cap Kosdaq index managed to gain 0.56%. Japan’s Nikkei 225 fell 0.62% amid profit booking after recently touching record highs. 

Hong Kong’s Hang Seng index futures also indicated a weaker opening, trading below the previous closing level of the benchmark index. 

Wall Street Ends Lower 

US markets closed lower on Thursday as rising crude oil prices and geopolitical uncertainty dampened investor confidence. 

The S&P 500 index fell 0.38% to close at 7,337.11, while the Nasdaq Composite declined 0.13% to settle at 25,806.20. The Dow Jones Industrial Average dropped 313.62 points, or 0.63%, ending the session at 49,596.97. 

Market participants remained focused on developments surrounding the US-Iran situation, particularly any escalation that could disrupt global energy supplies. 

Read More: India’s Net Direct Tax Collections Reach ₹23.40 Trillion in FY26, Up 5%! 

Crude Oil Prices Surge 

Crude oil prices advanced sharply following the latest geopolitical developments in the Middle East. 

West Texas Intermediate (WTI) crude futures rose 2.06% to trade at US$96.76 per barrel, while Brent crude futures gained 2.27% to US$102.33 per barrel. 

On COMEX, crude oil prices also moved higher, rising 2.13% to US$96.83 per barrel as traders priced in supply disruption risks around the Strait of Hormuz. 

FII and DII Activity 

Foreign institutional investors (FIIs) remained net sellers on May 7, offloading shares worth Rs 340.89 crore, according to provisional NSE data. 

Domestic institutional investors (DIIs), however, provided support to the markets as they purchased shares worth Rs 441.07 crore during the session. 

US Dollar and Rupee Movement 

The US Dollar Index (DXY), which tracks the dollar against a basket of six major currencies, remained largely flat at 98.24. 

Meanwhile, the Indian rupee appreciated 0.39% to close at 94.25 against the US dollar on May 7, supported by stable domestic inflows and relatively steady currency market conditions. 

Conclusion 

Indian markets are likely to remain volatile in the near term as investors monitor geopolitical developments involving the United States and Iran, movement in crude oil prices and global market sentiment. Market participants will also keep a close watch on institutional flows and macroeconomic indicators for further trading direction. 

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