Indian equity benchmarks stayed on the back foot for the second day on Friday as fresh geopolitical tensions in West Asia revived concerns over energy supplies and weighed heavily on investor sentiment. Foreign fund outflows and a weak trend in global markets further added to the bearish trend.
Some of the important factors in trade:
India’s 6.6% growth impressive feat amid global turmoil: Former NITI Aayog CEO Amitabh Kant has said that despite facing unprecedented global challenges such as active warfare, broken supply chains, and rising protectionism, India's 6.6% GDP growth cements its status as the world's fastest-growing large economy.
Foreign Secretary Vikram Misri meets UAE's minister: Foreign Secretary Vikram Misri met with the UAE's Minister of State for International Cooperation Reem Al Hashimy in Abu Dhabi on Thursday and discussed bilateral ties as well as the ongoing regional situation and global issues of mutual interest.
Govt extends subsidy scheme for companies flagging merchant ships until FY31: The shipping ministry extended the scheme for providing subsidies to Indian companies flagging merchant ships in India for five years until the financial year 20230-31.
Trai proposes new mechanism for telecom operators to resolve customers' grievances: With an aim of encouraging resolution of customers' grievances, the Telecom regulator Trai has proposed a new mechanism for telecom operators, suggesting a fine of up to Rs 50 lakh per quarter on telcos in case of violations.
Global front: European markets were trading lower as escalating U.S.-Iran tensions curbed investors' appetite for riskier assets. Asian markets settled mostly lower as renewed hostilities between the U.S. and Iran lifted crude oil prices and revived inflation worries.
Finally, the BSE Sensex fell 516.33 points or 0.66% to 77,328.19 and the CNX Nifty was down by 150.50 points or 0.62% to 24,176.15.
The BSE Sensex touched high and low of 77,647.44 and 77,146.43, respectively. There were 14 stocks advancing against 16 stocks declining on the index.
The top gaining sectoral indices on the BSE were Consumer Durables up by 2.01%, IT up by 1.20%, TECK up by 0.86%, Healthcare up by 0.31% and Consumer Discretionary up by 0.14%, while PSU down by 1.81%, Bankex down by 1.18%, Oil & Gas down by 1.03%, Energy down by 0.92% and Metal down by 0.87% were the top losing indices on BSE.
The top gainers on the Sensex were Titan Company up by 4.76%, Asian Paints up by 2.80%, Adani Ports &SEZ up by 1.58%, Infosys up by 1.44% and HCL Technologies up by 1.28%. On the flip side, SBI down by 6.62%, HDFC Bank down by 1.84%, Bajaj Finance down by 1.80%, Axis Bank down by 1.78% and Ultratech Cement down by 1.55% were the top losers.
Meanwhile, the Ministry of External Affairs (MEA) has said that Foreign Secretary Vikram Misri has paid an official visit to the United Arab Emirates (UAE) on May 7, 2026, where he held meeting with UAE Minister of State for International Cooperation Reem Al Hashimy in Abu Dhabi and exchanged views on the prevailing situation in the West Asia region and other regional and global issues of mutual interest. Hashimy is also the UAE's special envoy for India.
MEA said both sides reviewed the full spectrum of the India-UAE Comprehensive Strategic Partnership and identified areas for further cooperation. They also reviewed ongoing bilateral cooperation in the areas of trade, investment, economic cooperation, energy, connectivity, defence and security, fintech, health, education, culture and people to people connections. The two sides also identified new initiatives to further deepen the bilateral Comprehensive Strategic Partnership. It said Misri and Hashimy positively assessed the progress made on the decisions taken during the visits to India by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan this year.
The ministry further said the foreign secretary also participated in a trilateral meeting under the India-France-UAE framework, along with Hashimy, and Martin Briens, Secretary General of the Ministry for Europe and Foreign Affairs of France. The three sides reaffirmed their commitment to the trilateral partnership and agreed on a structured roadmap with defined timelines.
CNX Nifty touched high and low of 24,253.80 and 24,126.65, respectively. There were 20 stocks advancing against 30 stocks declining on the index.
The top gainers on Nifty were Titan Company up by 4.86%, Apollo Hospital up by 3.42%, Asian Paints up by 2.74%, Tata Consumer Product up by 2.16% and Adani Ports &SEZ up by 1.57%. On the flip side, SBI down by 6.74%, Coal India down by 2.07%, HDFC Bank down by 1.89%, Bajaj Finance down by 1.88% and Axis Bank down by 1.76% were the top losers.
European markets were trading lower; UK’s FTSE 100 decreased 17.21 points or 0.17% to 10,259.74, Germany’s DAX lost 253.61 points or 1.03% to 24,410.00 and France’s CAC fell 58.94 points or 0.72% to 8,143.14.
Asian markets settled mostly lower on Friday tracking Wall Street’s fall overnight and as renewed tensions between the US and Iran in the Strait of Hormuz drove oil prices back above the $100 a barrel mark and revived inflation worries. US President Donald Trump insisted that the ceasefire remained in effect but warned of harsher military action if no deal is signed quickly. Hong Kong shares dropped, largely driven by caution ahead of key earnings reports from tech giants Alibaba and Tencent scheduled for next week. Japanese markets fell on profit-taking after recent gains, while the yen traded moderately higher against the US dollar on intervention fears and expectations of a hawkish shift at the Bank of Japan ahead of US Treasury Secretary Scott Bessent's visit to Tokyo next week. China’s Shanghai Composite closed flat as investors remained cautious following recent US-Iran military tensions and the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing on May 14-15, 2026. Discussions are expected to cover critical issues including trade tariffs, technology competition, and fentanyl control. However, Seoul shares ended slightly higher as gains in AI-related chip stocks continued to support investor sentiment. Meanwhile investors globally awaited the release of the US non-farm payrolls report later in the day for directional cues after private sector job growth soared in April.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 4,179.95 | -0.14 | 0.00 |
Hang Seng | 26,393.71 | -232.57 | -0.87 |
Jakarta Composite | 6,969.40 | -204.92 | -2.94 |
KLSE Composite | 1,748.06 | -10.79 | -0.61 |
Nikkei 225 | 62,713.65 | -120.19 | -0.19 |
Straits Times | 4,921.90 | -20.06 | -0.41 |
KOSPI Composite | 7,498.00 | 7.95 | 0.11 |
Taiwan Weighted | 41,603.94 | -329.84 | -0.79 |
