Stock market closing: Nifty 50 at 24,176.15 down 0.62%, Sensex at 77,328.19 down 0.66%, PSU bank index falls 3.06%
On 8th May 2026, the Indian stock market witnessed a downturn as both the Nifty 50 and the Sensex closed in the red. The Nifty 50 ended the session at 24,176.15, marking a decline of 0.62% from its opening level of 24,233.65. Similarly, the Sensex fell by 0.66% to close at 77,328.19, down from its opening level of 77,631.94. The overall market sentiment was subdued, with significant pressure observed in the PSU Bank sector.
Index movements
The Nifty 50 experienced a volatile trading session, reaching a high of 24,253.80 and a low of 24,126.65. The index’s trajectory showed fluctuations throughout the day, with notable dips and recoveries. The Sensex mirrored this pattern, hitting a high of 77,647.44 and a low of 77,146.43. The Bank Nifty also faced a challenging day, closing at 55,310.55, down 1.31% from its opening of 55,783.95, after touching a high of 55,797.70 and a low of 55,062.50.
Sectoral performance
The Nifty PSU Bank index was the most affected, dropping 3.06% to close at 8,371.95. In contrast, the Nifty IT index showed resilience, gaining 1.21% to end at 29,394.20. Other sectors such as Nifty Metal and Nifty Energy also saw declines, with the Metal index down 0.87% and the Energy index down 0.84%. The Nifty FMCG index managed a modest gain of 0.19%, closing at 51,165.90.
Market breadth
The broader market indices reflected a mixed trend. The Nifty 100 and Nifty 500 indices both recorded declines of 0.60% and 0.42%, respectively. The Nifty Midcap 100 index showed a slight decrease of 0.15%, while the Nifty Midcap 50 index remained relatively stable with a marginal gain of 0.06%. The Nifty Pharma index closed slightly higher, up 0.10% at 24,110.30.
| Index | Open | High | Low | Current | Change % |
|---|---|---|---|---|---|
| Nifty 50 | 24,233.65 | 24,253.80 | 24,126.65 | 24,176.15 | -0.62% |
| Sensex | 77,631.94 | 77,647.44 | 77,146.43 | 77,328.19 | -0.66% |
| Nifty PSU Bank | 8,612.05 | 8,613.55 | 8,320.35 | 8,371.95 | -3.06% |
| India VIX | 16.62 | 17.43 | 16.16 | 16.84 | +1.32% |
| Bank Nifty | 55,783.95 | 55,797.70 | 55,062.50 | 55,310.55 | -1.31% |
| Nifty IT | 29,031.55 | 29,490.60 | 28,961.80 | 29,394.20 | +1.21% |
| Nifty Metal | 13,156.00 | 13,167.15 | 13,030.40 | 13,050.95 | -0.87% |
| Nifty Energy | 41,091.50 | 41,133.10 | 40,695.50 | 40,795.80 | -0.84% |
| Nifty 100 | 25,235.70 | 25,247.15 | 25,125.35 | 25,168.60 | -0.60% |
| Nifty Realty | 827.35 | 829.30 | 820.20 | 823.60 | -0.47% |
| Nifty 500 | 23,166.05 | 23,185.65 | 23,080.30 | 23,115.65 | -0.42% |
| Nifty Auto | 27,244.80 | 27,392.15 | 27,082.60 | 27,259.85 | +0.06% |
| Nifty FMCG | 51,107.55 | 51,320.15 | 50,756.85 | 51,165.90 | +0.19% |
| Nifty Midcap 100 | 62,039.15 | 62,113.85 | 61,766.35 | 61,910.90 | -0.15% |
| Nifty Pharma | 24,043.45 | 24,306.75 | 24,030.65 | 24,110.30 | +0.10% |
| Nifty Midcap 50 | 17,636.55 | 17,686.30 | 17,555.45 | 17,628.20 | +0.06% |
| Nifty Media | 1,467.90 | 1,481.65 | 1,465.65 | 1,472.80 | +0.04% |
Market outlook
As the market closed on a negative note, investors are likely to remain cautious in the upcoming sessions. The significant drop in the PSU Bank index indicates sector-specific pressures that may continue to influence market sentiment. Observers will be keenly watching for any developments that could impact these trends, particularly in the banking and IT sectors, which showed contrasting performances today.
Data as on May 8, 2026, 03:35 PM IST.
Disclaimer: This article is generated for informational purposes only and does not constitute financial, investment, or trading advice. The data and analysis presented are based on publicly available market information at the time of writing. Markets are subject to risk. Please consult a qualified financial advisor before making any investment or trading decisions. Business Upturn does not accept responsibility for any losses arising from reliance on this content.
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