Nifty below 24,200, Sensex dips 516 pts amid renewed US-Iran tensions

The domestic share market ended on a weak note on Friday amid renewed geopolitical tensions following reported clashes between Iran and the United States, which triggered a rise in crude oil prices.At close, the Sensex was down 516.33 points or 0.66 percent at 77,328.19, and the Nifty was down 150.50 points or 0.62 percent at 24,176.15.For the week, BSE Sensex jumped 0.5 percent, while Nifty50 index rose 0.7 percent.

#Markets trade lower as renewed US-Iran tensions weigh on sentiment. Nifty slips below 24,250, while rising crude prices and weak banking stocks pressure indices. pic.twitter.com/mIvvevIvu9

— newsinc24 (@newsinc24) May 8, 2026

Asian Paints, Apollo Hospitals, Tata Consumer, Adani Ports, Titan Company were the top gainers on the Nifty, while losers included SBI, Coal India, HDFC Bank, Bajaj Finance, Axis Bank.On the sectoral front,except IT, Healthcare, Consumer Durables and FMCG, all other indices ended in the red with PSU Bank index slipped 3%, Oil & Gas index shed 1%, while Private Bank, Metal, Energy, Power, Realty down 0.5% each.Broader markets traded on a mixed note, with the Nifty Midcap index declining 0.15%, while the Nifty Smallcap index gained 0.22%.
Rupee Close:
On 8 May'26,the Indian rupee depreciated 25 paise to close at 94.47 against the U.S. dollar on Friday , after rising in the past two sessions, on renewed tensions between the U.S. and Iran over the Strait of Hormuz.Forex traders said investor sentiments were affected after Iran accused the U.S. of violating the ceasefire as the U.S. carried out fresh attacks in the Strait of Hormuz and civilian areas, while President Donald Trump said the ceasefire was still in effect.Brent oil prices, which had fallen to $98 per barrel amid the U.S.-Iran peace deal, edged higher to around $100 per barrel as investors weighed the prospects for a West Asia peace deal.
Trading Guide:
Market experts recommended five shares to buy on Friday: RBL Bank, Hero Motocorp, Hindustan Aeronautics, Crompton Greaves Consumer Electricals, and Delhivery.

(Business Correspondent)