BT Closing Bell | Sensex, Nifty erase gains on fag-end selling to close in red; HUL, TCS lead losers
Five stocks, namely, HUL, TCS, ITC, Bajaj Finance and Sun Pharma, contributed largely to the Sensex’s drop.
- May 7, 2026,
- Updated May 7, 2026 3:56 PM IST
Domestic equity benchmarks BSE Sensex and NSE Nifty closed lower on Thursday despite a positive opening, dragged down by fag-end selling as it intensified in FMCG, IT and PSU bank stocks amid uncertainty around the US-Iran conflict.
At close, the Sensex declined 114 points, or 0.15 per cent, to settle at 77,844.52, falling 540 points from the day's high of 78,384.70, while the Nifty slipped 4.30 points, or 0.02 per cent, to close at 24,326.65, down 155 points from the intraday high of 24,482.10.
Top gainers & losers
Among Sensex constituents, Hindustan Unilever (HUL) emerged as the top loser, falling 1.95% to Rs 2272.80. Tata Consultancy Services (TCS) followed with a 1.38% fall, while Tech Mahindra, Titan, Sun Pharma and ITC dropped 1.29%, 1.08%, 1.03% and 0.95%, respectively.
While Mahindra & Mahindra (M&M), NTPC and Kotak Mahindra Bank were among the gainers on the 30-pack index, which rose up to 2.04%.
"Domestic equities swung between gains and losses amid mixed global cues, even as the rupee strengthened. Selective risk appetite was evident in pockets of the market, with mid and small caps outperforming large caps,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
“Reports of a potential US–Iran agreement to gradually reopen the Strait of Hormuz pushed crude below $100 per barrel, easing near-term inflation concerns,” Nair added.
Five stocks, namely, HUL, TCS, ITC, Bajaj Finance and Sun Pharma, contributed largely to the Sensex’s drop.
Among sectoral indices, the BSE IT index plunged 0.56% to close at 28,246.91, while the BSE Bankex and PSU Bank indices slipped 0.45% and 54% to settle at 18,978.79 and 4,837.19, respectively.
“In the near term, markets will remain highly sensitive to headline risk with volatility contingent on developments out of the Gulf, most critically Iran's response to the U.S. peace proposal and the potential reopening of the Strait of Hormuz,” said Ponmudi R, CEO of Enrich Money.
“Either outcome carries the potential to move markets sharply given the conflict's broad-based impact on global risk assets and energy prices, with tangible progress toward a resolution providing the foundation for a further and more sustained improvement, while any deterioration risks a swift reversal of the gains built over recent sessions,” Ponmudi added.
Domestic equity benchmarks BSE Sensex and NSE Nifty closed lower on Thursday despite a positive opening, dragged down by fag-end selling as it intensified in FMCG, IT and PSU bank stocks amid uncertainty around the US-Iran conflict.
At close, the Sensex declined 114 points, or 0.15 per cent, to settle at 77,844.52, falling 540 points from the day's high of 78,384.70, while the Nifty slipped 4.30 points, or 0.02 per cent, to close at 24,326.65, down 155 points from the intraday high of 24,482.10.
Top gainers & losers
Among Sensex constituents, Hindustan Unilever (HUL) emerged as the top loser, falling 1.95% to Rs 2272.80. Tata Consultancy Services (TCS) followed with a 1.38% fall, while Tech Mahindra, Titan, Sun Pharma and ITC dropped 1.29%, 1.08%, 1.03% and 0.95%, respectively.
While Mahindra & Mahindra (M&M), NTPC and Kotak Mahindra Bank were among the gainers on the 30-pack index, which rose up to 2.04%.
"Domestic equities swung between gains and losses amid mixed global cues, even as the rupee strengthened. Selective risk appetite was evident in pockets of the market, with mid and small caps outperforming large caps,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
“Reports of a potential US–Iran agreement to gradually reopen the Strait of Hormuz pushed crude below $100 per barrel, easing near-term inflation concerns,” Nair added.
Five stocks, namely, HUL, TCS, ITC, Bajaj Finance and Sun Pharma, contributed largely to the Sensex’s drop.
Among sectoral indices, the BSE IT index plunged 0.56% to close at 28,246.91, while the BSE Bankex and PSU Bank indices slipped 0.45% and 54% to settle at 18,978.79 and 4,837.19, respectively.
“In the near term, markets will remain highly sensitive to headline risk with volatility contingent on developments out of the Gulf, most critically Iran's response to the U.S. peace proposal and the potential reopening of the Strait of Hormuz,” said Ponmudi R, CEO of Enrich Money.
“Either outcome carries the potential to move markets sharply given the conflict's broad-based impact on global risk assets and energy prices, with tangible progress toward a resolution providing the foundation for a further and more sustained improvement, while any deterioration risks a swift reversal of the gains built over recent sessions,” Ponmudi added.