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Key gauges end with minor cuts on Thursday
May-07-2026

Indian equity benchmarks ended with minor cuts in a choppy trade on Thursday, as investors turned cautious amid unabated foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,834.90 crore on Wednesday, according to exchange data. Investors also awaited Iran's response to the US peace proposal. 

Some of the important factors in trade:

S&P Global lowers India's FY27 GDP growth estimates to 6.6%: S&P Global in its latest ‘India Forward’ report, jointly done with Crisil, has lowered India's Gross Domestic Product (GDP) growth estimates for the current financial year (FY27) to 6.6 per cent from 7.1 per cent projected earlier. 

Positive growth sentiment persists in India’s Manufacturing Sector in Q4FY26: The Federation of Indian Chambers of Commerce and Industry’s (FICCI) latest survey for January-March FY26 has said that growth sentiment in India's manufacturing sector stays optimistic in Q4FY26, even in the face of rising input costs and geopolitical uncertainties. 

India, South Korea likely to hold FTA review talks on May 25: The report said that India and South Korea are expected to hold negotiations on May 25 regarding the review of the comprehensive economic partnership agreement (CEPA), which was implemented in January 2010. 

India’s power demand to rise 5% in FY27: Rating agency ICRA has said that power demand will rise by 5.0-5.5 per cent in 2026-27 as against a tepid one per cent growth in 2025-26, supported by continued momentum in industrial and commercial activity. 

Global front: European markets were trading lower as data showed Eurozone retail sales dropped marginally in March as reduced food and auto fuel sales were partially offset by the increased non-food product sales. Asian markets settled higher as investors pinned hopes for a peace deal between the United States and Iran.

Finally, the BSE Sensex fell 114.00 points or 0.15% to 77,844.52 and the CNX Nifty was down by 4.30 points or 0.02% to 24,326.65.

The BSE Sensex touched high and low of 78,384.70 and 77,713.21, respectively. There were 11 stocks advancing against 19 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 2.05%, Auto up by 1.81%, Industrials up by 1.69%, Power up by 1.23% and Consumer Discretionary up by 0.98%, while TECK down by 0.60%, IT down by 0.56%, Consumer Durables down by 0.52%, FMCG down by 0.45% and Oil & Gas down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.04%, NTPC up by 1.46%, Kotak Mahindra Bank up by 1.18%, Tata Steel up by 0.70% and Eternal up by 0.57%. On the flip side, Hindustan Unilever down by 1.95%, TCS down by 1.38%, Tech Mahindra down by 1.29%, Titan Company down by 1.14% and Sun Pharma down by 1.03% were the top losers.

Meanwhile, the Federation of Indian Chambers of Commerce and Industry’s (FICCI) latest survey for January-March FY26 has said that growth sentiment in India's manufacturing sector stays optimistic in the fourth quarter of last financial year (Q4FY26), even in the face of rising input costs and geopolitical uncertainties. The survey stated that the only effect observed was a small decrease in capacity utilization, down to nearly 72 per cent compared to the previous quarter. However, the outlook for future investment remains stable for the next six months. 

For the period January-March 2025-26, the survey evaluated the performance and sentiments of manufacturers for eight major sectors, including automobile, capital goods, chemical, fertilizer & pharmaceuticals, electronics & electricals, machine tools, metal, and textiles. The survey collected responses from more than 250 manufacturing units, spanning both large and SME segments, with a combined annual turnover of over Rs 8 lakh crore.

FICCI stated ‘The survey continued to reflect sustained growth and increasing optimism for India's manufacturing sector in Q4. In comparison to Q3 FY26, when 91 per cent of respondents reported higher or same production levels, approximately 93 per cent of respondents reported either higher or same production levels in Q4 FY26. This optimism was also evident in domestic demand, as 89 per cent of respondents anticipated higher or the same orders in Q4 FY 2026 compared to the previous quarter’.

CNX Nifty touched high and low of 24,482.10 and 24,284.00, respectively. There were 24 stocks advancing against 25 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were HDFC Life Insurance up by 3.57%, Bajaj Auto up by 2.63%, Mahindra & Mahindra up by 1.98%, Grasim Industries up by 1.39% and NTPC up by 1.28%. On the flip side, Hindustan Unilever down by 1.90%, TCS down by 1.33%, Titan Company down by 1.16%, Tech Mahindra down by 1.14% and ITC down by 1.01% were the top losers.

European markets were trading lower; UK’s FTSE 100 decreased 53.87 points or 0.52% to 10,384.79, France’s CAC fell 13.82 points or 0.17% to 8,285.60 and Germany’s DAX lost 87.89 points or 0.35% to 24,830.80. 

Asian markets settled higher on Thursday following the drop in Brent crude to trade below the $100 a barrel mark after US President Donald Trump indicated a possible peace deal between United States and Iran. Meanwhile, overnight gains on Wall Street, where the S&P 500 and Nasdaq Composite reached fresh record highs driven by strong corporate performance in the technology sector further supported market sentiments. Japan’s Nikkei 225 index surged to new all-time high driven by a post-holiday catch-up with the global AI and technology rallies. Kospi closed at a new record peak driven by robust AI chip demand after South Korea’s first-quarter exports hit a record high, with chip shipments soaring 139% year-on-year. South Korea’s stock market has officially surpassed Canada to become the world’s seventh-largest, with the total market capitalization of Korean-listed companies soaring to $4.59 trillion.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,180.09

19.92

0.48

Hang Seng

26,626.28

412.50

1.57

Jakarta Composite

7,174.32

81.85

1.14

KLSE Composite

1,758.85

1.98

0.11

Nikkei 225

62,833.84

3,320.72

5.58

Straits Times

4,941.96

14.58

0.30

KOSPI Composite

7,490.05

105.49

1.43

Taiwan Weighted

41,933.78

794.93

1.93
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