{"id":11673,"date":"2026-05-08T05:13:48","date_gmt":"2026-05-08T05:13:48","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=11673"},"modified":"2026-05-08T05:18:05","modified_gmt":"2026-05-08T05:18:05","slug":"market-opening-bell-8-may-2026-sensex-loses-400-points","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/market-opening-bell-8-may-2026-sensex-loses-400-points\/","title":{"rendered":"Market Opening Bell – 8 May 2026: Sensex loses 400 points"},"content":{"rendered":"
\"\"<\/figure>\n

Indian equities opened sharply lower on Friday, with the <\/span>Sensex<\/strong> dropping about <\/span>400 points to 77,448<\/strong> and the <\/span>Nifty 50<\/strong> sliding around <\/span>113 points to 24,214<\/strong>, as renewed US–Iran tensions pushed Brent crude back above <\/span>$100 a barrel<\/strong>. The gap-down start followed weak global cues and a negative signal from GIFT Nifty, while banking stocks led the decline and broader indices slipped into the red but continued to outperform the benchmarks.<\/span><\/p>\n

Market Overview<\/span><\/h2>\n\n\n\n\n\n\n\n\n
\n

Index<\/strong><\/p>\n<\/td>\n

\n

8 May 2026 Open \/ Early Trade<\/strong><\/p>\n<\/td>\n

\n

Move & % Change<\/strong><\/p>\n<\/td>\n

\n

Comments<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Sensex<\/strong><\/p>\n<\/td>\n

\n

77,448 (approx.)<\/span><\/p>\n<\/td>\n

\n

-400 pts (approx. -0.5%)<\/span><\/p>\n<\/td>\n

\n

Extends losses for second session; banks and heavyweights drag.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Nifty 50<\/strong><\/p>\n<\/td>\n

\n

24,214 (approx.)<\/span><\/p>\n<\/td>\n

\n

-113 pts (approx. -0.5%)<\/span><\/p>\n<\/td>\n

\n

Trades near 24,200 after gap-down open.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Nifty Midcap 100<\/strong><\/p>\n<\/td>\n

\n

In red (approx.)<\/span><\/p>\n<\/td>\n

\n

Marginally down<\/span><\/p>\n<\/td>\n

\n

Slips but still outperforming large caps.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Nifty Smallcap 100<\/strong><\/p>\n<\/td>\n

\n

In red (approx.)<\/span><\/p>\n<\/td>\n

\n

Marginally down<\/span><\/p>\n<\/td>\n

\n

Mild decline after recent outperformance.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

India VIX<\/strong><\/p>\n<\/td>\n

\n

16.62 (prior close)<\/span><\/p>\n<\/td>\n

\n

Nearly flat<\/span><\/p>\n<\/td>\n

\n

Volatility steady despite geopolitical tensions.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Note: figures are approximate; final exchange data not available at time of publication.<\/span><\/p>\n

    \n
  • Indian benchmarks extend declines for a second straight session.<\/span><\/li>\n
  • Broader markets turn negative but continue to outperform large caps.<\/span><\/li>\n
  • Advance-decline on NSE: <\/span>1,303 stocks down<\/strong>, <\/span>1,202 up<\/strong>, <\/span>110 unchanged<\/strong>.<\/span><\/li>\n
  • India VIX remains broadly stable, indicating contained near-term volatility.<\/span><\/li>\n<\/ul>\n

    Key Movers<\/span><\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n
    \n

    Stock<\/strong><\/p>\n<\/td>\n

    		\n

    Sector<\/strong><\/p>\n<\/td>\n

    		\n

    Notable Factor<\/strong><\/p>\n<\/td>\n<\/tr>\n

    \n

    Mahindra & Mahindra<\/strong><\/p>\n<\/td>\n

    		\n

    Auto<\/span><\/p>\n<\/td>\n

    		\n

    Among top Sensex losers, down up to 1%.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    HDFC Bank<\/strong><\/p>\n<\/td>\n

    		\n

    Banking<\/span><\/p>\n<\/td>\n

    		\n

    Falls up to 2%, weighs on indices.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Axis Bank<\/strong><\/p>\n<\/td>\n

    		\n

    Banking<\/span><\/p>\n<\/td>\n

    		\n

    Trades lower, part of private bank weakness.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Kotak Mahindra Bank<\/strong><\/p>\n<\/td>\n

    		\n

    Banking<\/span><\/p>\n<\/td>\n

    		\n

    Declines, adds to financials drag.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Reliance Industries<\/strong><\/p>\n<\/td>\n

    		\n

    Energy<\/span><\/p>\n<\/td>\n

    		\n

    Among major laggards in early trade.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Asian Paints<\/strong><\/p>\n<\/td>\n

    		\n

    Consumer<\/span><\/p>\n<\/td>\n

    		\n

    Gains up to 1.5%, bucks weak trend.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Infosys<\/strong><\/p>\n<\/td>\n

    		\n

    IT<\/span><\/p>\n<\/td>\n

    		\n

    Rises up to 1.5% as IT shows resilience.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    Tech Mahindra<\/strong><\/p>\n<\/td>\n

    		\n

    IT<\/span><\/p>\n<\/td>\n

    		\n

    Trades higher, supports Nifty IT index.<\/span><\/p>\n<\/td>\n<\/tr>\n

    \n

    HCL Technologies<\/strong><\/p>\n<\/td>\n

    		\n

    IT<\/span><\/p>\n<\/td>\n

    		\n

    Gains in early trade, defensive buying.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      \n
    • Banking, financials and select energy heavyweights pressure the benchmarks.<\/span><\/li>\n
    • IT names and select defensives attract buying despite risk-off mood.<\/span><\/li>\n<\/ul>\n

      Sectoral Action<\/span><\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      \n

      Sector\/Index<\/strong><\/p>\n<\/td>\n

      		\n

      Direction (approx.)<\/strong><\/p>\n<\/td>\n

      		\n

      Key Drivers<\/strong><\/p>\n<\/td>\n<\/tr>\n

      \n

      Nifty Private Bank<\/strong><\/p>\n<\/td>\n

      		\n

      down up to 0.8%<\/span><\/p>\n<\/td>\n

      		\n

      Weakness in HDFC Bank, Axis Bank, Kotak Bank.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Nifty PSU Bank<\/strong><\/p>\n<\/td>\n

      		\n

      down up to 0.8%<\/span><\/p>\n<\/td>\n

      		\n

      Selling in rate-sensitive and cyclical names.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Nifty Bank (headline)<\/strong><\/p>\n<\/td>\n

      		\n

      down (early trade)<\/span><\/p>\n<\/td>\n

      		\n

      Follows global risk-off and higher crude.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Nifty IT<\/strong><\/p>\n<\/td>\n

      		\n

      up (sharp)<\/span><\/p>\n<\/td>\n

      		\n

      Selective buying in Infosys, Tech Mahindra, HCL Tech.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Banking & Financial Services<\/strong><\/p>\n<\/td>\n

      		\n

      down<\/span><\/p>\n<\/td>\n

      		\n

      Broad-based pressure on economically sensitive sectors.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Oil & Gas<\/strong><\/p>\n<\/td>\n

      		\n

      down<\/span><\/p>\n<\/td>\n

      		\n

      Higher crude and global uncertainty weigh.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Realty<\/strong><\/p>\n<\/td>\n

      		\n

      down<\/span><\/p>\n<\/td>\n

      		\n

      Risk-off sentiment hits cyclicals.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Metals<\/strong><\/p>\n<\/td>\n

      		\n

      down<\/span><\/p>\n<\/td>\n

      		\n

      Tracks global growth concerns and weaker Asian markets.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Chemicals, Healthcare<\/strong><\/p>\n<\/td>\n

      		\n

      modestly up<\/span><\/p>\n<\/td>\n

      		\n

      Defensive interest amid volatility.<\/span><\/p>\n<\/td>\n<\/tr>\n

      \n

      Midcap IT<\/strong><\/p>\n<\/td>\n

      		\n

      modestly up<\/span><\/p>\n<\/td>\n

      		\n

      Stock-specific buying continues.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

        \n
      • Sectoral breadth skewed to declines, with banks and cyclicals leading losses.<\/span><\/li>\n
      • IT and defensives show relative strength despite global risk aversion.<\/span><\/li>\n<\/ul>\n

        Technical Outlook<\/span><\/h2>\n

        Nifty 50 key levels (intraday \/ near term)<\/strong>:<\/span><\/h3>\n
          \n
        • Support: <\/span>24,300 \/ 24,150<\/strong> (20-day SMA) cited as key zones in earlier session.<\/span><\/li>\n
        • Deeper support: <\/span>24,200<\/strong> immediate, then <\/span>24,100–24,000<\/strong> band on dips.<\/span><\/li>\n
        • Resistance: <\/span>24,400–24,575<\/strong>, with potential extension to <\/span>24,600–24,800<\/strong> if reclaimed.<\/span><\/li>\n<\/ul>\n

          Sensex key levels<\/strong>:<\/span><\/h3>\n
            \n
          •  Support: <\/span>77,700<\/strong> and <\/span>77,200<\/strong> (20-day SMA) watched by traders.<\/span><\/li>\n
          •  Resistance: <\/span>78,400–78,600<\/strong> on the upside.<\/span><\/li>\n<\/ul>\n

            Bank Nifty<\/strong> (prior close <\/span>56,047<\/strong>):<\/span><\/h3>\n
              \n
            • Support: <\/span>55,600–55,500<\/strong> near term; broader cushion at <\/span>55,400–55,200<\/strong>.<\/span><\/li>\n
            • Resistance: <\/span>56,300–56,500<\/strong> initially, then <\/span>56,800–57,000<\/strong>.<\/span><\/li>\n
            • “As long as the market trades above these levels, the bullish sentiment is likely to continue,”  <\/span><\/li>\n
            • Shrikant Chouhan, Head Equity Research, Kotak Securities<\/strong>.<\/span><\/li>\n<\/ul>\n

              Global Cues and Commodities<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              \n

              Market\/Asset<\/strong><\/p>\n<\/td>\n

              		\n

              Movement<\/strong><\/p>\n<\/td>\n

              		\n

              Notes<\/strong><\/p>\n<\/td>\n<\/tr>\n

              \n

              GIFT Nifty<\/strong><\/p>\n<\/td>\n

              		\n

              Around 24,283–24,295, down over 80–100 pts<\/span><\/p>\n<\/td>\n

              		\n

              Signals negative start versus Nifty futures close.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Japan Nikkei 225<\/strong><\/p>\n<\/td>\n

              		\n

              -0.36% to -0.7%<\/span><\/p>\n<\/td>\n

              		\n

              Falls on US–Iran worries and profit booking.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Japan Topix<\/strong><\/p>\n<\/td>\n

              		\n

              -0.67% to -0.8%<\/span><\/p>\n<\/td>\n

              		\n

              Tracks regional risk-off sentiment.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              South Korea Kospi<\/strong><\/p>\n<\/td>\n

              		\n

              around -1.0%<\/span><\/p>\n<\/td>\n

              		\n

              Hit by global tech and geopolitical concerns.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Hong Kong Hang Seng<\/strong><\/p>\n<\/td>\n

              		\n

              around -1.0% to -1.2%<\/span><\/p>\n<\/td>\n

              		\n

              Futures indicate weaker open.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Euro Stoxx 50 futures<\/strong><\/p>\n<\/td>\n

              		\n

              -0.8%<\/span><\/p>\n<\/td>\n

              		\n

              Point to softer European open.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              US Dow Jones<\/strong><\/p>\n<\/td>\n

              		\n

              -0.63%<\/span><\/p>\n<\/td>\n

              		\n

              Slips on US–Iran uncertainty, profit taking.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              US S&P 500<\/strong><\/p>\n<\/td>\n

              		\n

              -0.38%<\/span><\/p>\n<\/td>\n

              		\n

              Tech-led rally pauses.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Nasdaq Composite<\/strong><\/p>\n<\/td>\n

              		\n

              -0.13%<\/span><\/p>\n<\/td>\n

              		\n

              Mild decline after recent gains.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Brent Crude<\/strong><\/p>\n<\/td>\n

              		\n

              around $101\/bbl, +1%+<\/span><\/p>\n<\/td>\n

              		\n

              Reclaims $100 on fresh US–Iran clashes.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              WTI Crude<\/strong><\/p>\n<\/td>\n

              		\n

              around $95–98\/bbl, +1%+<\/span><\/p>\n<\/td>\n

              		\n

              Trades higher on supply risk.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Gold (spot)<\/strong><\/p>\n<\/td>\n

              		\n

              around +0.3%<\/span><\/p>\n<\/td>\n

              		\n

              Heads for weekly gain as haven demand rises.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              Silver (spot)<\/strong><\/p>\n<\/td>\n

              		\n

              around +0.8%<\/span><\/p>\n<\/td>\n

              		\n

              Follows gold higher.<\/span><\/p>\n<\/td>\n<\/tr>\n

              \n

              USD\/INR<\/strong><\/p>\n<\/td>\n

              		\n

              94.58, rupee down 0.35%<\/span><\/p>\n<\/td>\n

              		\n

              Weakens after recent rebound from record low.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

              Note: figures are approximate; final market data not available at time of publication.<\/span><\/p>\n

                \n
              • US–Iran conflict near the Strait of Hormuz escalates after attacks on US Navy destroyers.<\/span><\/li>\n
              • Brent crude stays above <\/span>$100<\/strong>, reviving concerns for energy-importing economies like India.<\/span><\/li>\n
              • Dollar index firms near <\/span>98.2<\/strong>, adding pressure on emerging market currencies.<\/span><\/li>\n<\/ul>\n

                Flows and Market Microstructure<\/span><\/p>\n\n\n\n\n\n
                \n

                Statistic<\/strong><\/p>\n<\/td>\n

                		\n

                Value\/Change<\/strong><\/p>\n<\/td>\n

                		\n

                Context<\/strong><\/p>\n<\/td>\n<\/tr>\n

                \n

                FII equity flows (Thursday, provisional)<\/strong><\/p>\n<\/td>\n

                		\n

                Net sell \u20b9341 crore<\/span><\/p>\n<\/td>\n

                		\n

                Third straight session of FII selling, though intensity has eased.<\/span><\/p>\n<\/td>\n<\/tr>\n

                \n

                Rupee vs USD (open)<\/strong><\/p>\n<\/td>\n

                		\n

                94.58, down 36 paise<\/span><\/p>\n<\/td>\n

                		\n

                Pullback after sharp two-day recovery from record low 95.4325.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                  \n
                • FIIs remain net sellers in Indian equities, particularly in banking and IT heavyweights.<\/span><\/li>\n
                • “The broader outlook remains sensitive to crude prices and final clarity on the US–Iran proposal,”  <\/span><\/li>\n
                • Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities<\/strong>.<\/span><\/li>\n
                • Broader market outperformance continues despite high valuations in midcaps.<\/span><\/li>\n
                • “Nifty is being weighed down by sustained FPI selling, particularly in heavyweights in banking and IT,”  <\/span><\/li>\n
                • V K Vijayakumar, Chief Investment Strategist, Geojit Investments<\/strong>.<\/span><\/li>\n<\/ul>\n

                  Broader Market and Derivatives<\/span><\/h2>\n
                    \n
                  • Nifty Midcap index recently hit a record high, reflecting strong risk appetite.<\/span><\/li>\n
                  • Options data (prior session) showed call writing at <\/span>24,400–24,500<\/strong> and put writing at <\/span>24,300–24,200<\/strong>.<\/span><\/li>\n
                  • This indicates a near-term range with support at lower Nifty strikes and resistance around 24,400–24,500.<\/span><\/li>\n<\/ul>\n

                    FAQ<\/span><\/h2>\n

                    Q: Why did the Sensex open 400 points lower today?<\/strong><\/p>\n

                    – Weak global cues, renewed US–Iran tensions, Brent crude above $100 and continued FII selling weighed on sentiment.<\/span><\/p>\n

                    Q: How are midcap and smallcap stocks performing compared with large caps?<\/strong><\/p>\n

                    – Midcap and smallcap indices slipped into the red in early trade but continue to outperform the Sensex and Nifty over recent sessions.<\/span><\/p>\n

                    Q: What key levels should traders watch on Nifty today?<\/strong><\/p>\n

                    – Immediate support is around <\/span>24,200–24,150<\/strong>, with resistance near <\/span>24,400–24,575<\/strong>. A sustained move above 24,400 could open upside towards 24,600 and beyond.<\/span><\/p>\n

                    Q: Why did the Sensex open 400 points lower today?<\/strong><\/p>\n

                    A: The Sensex tracked weak global markets, renewed US–Iran tensions that pushed Brent crude back above $100 a barrel, and continued foreign portfolio investor selling, especially in banking and large-cap stocks.<\/span><\/p>\n

                    Q: How are midcap and smallcap indices performing versus large caps?<\/strong><\/p>\n

                    A: Both Nifty Midcap 100 and Nifty Smallcap 100 slipped into the red at the open, but they still show better recent performance than the Sensex and Nifty, reflecting ongoing broader market resilience.<\/span><\/p>\n

                    Q: What are the important Nifty 50 support and resistance levels for traders?<\/strong><\/p>\n

                    A: Key support lies around 24,200–24,150, with deeper support near 24,100–24,000. Resistance is seen around 24,400–24,575, and a sustained move above 24,400 could allow a test of 24,600–24,800 in the near term.<\/span><\/p>","protected":false},"excerpt":{"rendered":"

                    Indian equities opened sharply lower on Friday, with the Sensex dropping about 400 points to 77,448 and the Nifty 50 sliding around 113 points to 24,214, as renewed US–Iran tensions pushed Brent crude back above $100 a barrel. The gap-down start followed weak global cues and a negative signal from GIFT Nifty, while banking stocks […]<\/p>\n","protected":false},"author":3,"featured_media":11674,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[512],"tags":[],"class_list":["post-11673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=11673"}],"version-history":[{"count":2,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11673\/revisions"}],"predecessor-version":[{"id":11677,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11673\/revisions\/11677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/11674"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=11673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=11673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=11673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}