The Indian stock market extended its decline on Friday, May 8, 2026, as geopolitical developments kept investors on edge. The NIFTY 50 closed at 24,176.15, down 150.50 points or 0.62%, after reports of clashes between US and Iranian forces in the Gulf.
Further concerns emerged as the United Arab Emirates reportedly came under renewed attack, pressuring global risk sentiment. Although US President Donald Trump stated that the ceasefire was still holding, markets remained cautious, leading to broad‑based selling in banking stocks.
The benchmark index opened on a subdued note and remained under pressure for most of the trading session. Investor sentiment weakened amid concerns that geopolitical tensions could disrupt energy supplies and fuel inflationary pressures.
Banking and financial stocks bore the brunt of selling, dragging the index lower. However, pockets of strength in consumer discretionary, FMCG and healthcare stocks helped limit the overall downside.
| Company Name | LTP | Change (₹) | % Change | Volume (Lakhs) | Value (₹ Crores) |
| Titan Company | 4,517.00 | 209.50 | 4.86 | 47.78 | 2,140.19 |
| Apollo Hospitals | 8,105.00 | 268.00 | 3.42 | 9.23 | 741.04 |
| Asian Paints | 2,600.00 | 69.40 | 2.74 | 23.28 | 602.36 |
| Tata Consumer Products | 1,176.60 | 24.90 | 2.16 | 36.72 | 431.70 |
| Adani Ports | 1,760.00 | 27.20 | 1.57 | 49.85 | 877.94 |
| Company Name | LTP | Change (₹) | % Change | Volume (Lakhs) | Value (₹ Crores) |
| State Bank of India | 1,018.40 | -73.60 | -6.74 | 480.66 | 4,986.55 |
| Coal India | 457.00 | -9.65 | -2.07 | 157.68 | 721.90 |
| HDFC Bank | 781.00 | -15.05 | -1.89 | 380.17 | 2,971.51 |
| Bajaj Finance | 954.50 | -18.25 | -1.88 | 55.55 | 532.12 |
| Axis Bank | 1,270.00 | -22.70 | -1.76 | 63.59 | 808.15 |
Banking stocks were the biggest drag on the index, led by sharp losses in State Bank of India, HDFC Bank and Axis Bank. Energy stocks also faced pressure amid fluctuations in crude oil prices.
In contrast, consumer discretionary and FMCG stocks showed strength, supported by gains in Titan Company and Asian Paints. Healthcare stocks such as Apollo Hospitals offered additional resilience, preventing a steeper decline in the broader market.
Read More: Will Tata Sons List?
The NIFTY 50 closed lower on May 8, 2026, as renewed geopolitical tensions overshadowed assurances of a continuing ceasefire. Titan Company and Apollo Hospitals led the gainers, providing support from the consumer and healthcare segments.
However, sharp losses in State Bank of India and other banking stocks weighed heavily on the index. Overall, market sentiment remained cautious as investors closely monitored developments in the Middle East and their potential impact on global markets.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 8, 2026, 4:01 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
