Indian Stock Markets Dip Amid Sectoral Weakness and Global Tensions Indian benchmark indices traded lower on Friday, extending losses for the second consecutive session. The Sensex and Nifty 50 fell over 300 points and dropped below 24,250, respectively, with HDFC Bank and Coal India declining 2% each. Sectoral indices across the market showed broad-based weakness, with banking, financial services, oil & gas, realty, and metal stocks leading the decline. This signaled pressure on economically sensitive sectors, while IT, chemicals, healthcare, and midcap IT indices showed resilience with modest gains, indicating selective buying interest in defensive and technology-driven segments amid cautious sentiment. Global markets also faced mixed performance, with S&P 500 futures rising 0.2% as of Tokyo time, while Japan’s Topix fell 0.8%, Australia’s S&P/ASX 200 dropped 1.6%, Hong Kong’s Hang Seng declined 1.2%, and the Shanghai Composite fell 0.1%. Euro Stoxx 50 futures also fell 0.8%. Analysts attributed the Indian market’s decline partly to the HDFC Bank controversy, which Jefferies cited as a factor impacting banking sector valuations. Several companies saw significant price movements. Pidilite Industries shares rose 4% after reporting a 37% jump in Q4 net profit to Rs 584 crore, with revenue up 14%. In contrast, Shakti Pumps shares tumbled 7% as Q4 profit dropped 65% YoY to Rs 38.3 crore. Sonata Software shares surged nearly 10% despite a revenue contraction, driven by a 21% rise in Q4 net profit, strong EBITDA growth, and a final dividend announcement. The bonds market faced pressure as US-Iran tensions resurfaced, pushing Indian government bonds lower. The benchmark 6.48% 2035 bond yield rose to 6.9659% from 6.9328% the previous day.#hdfc_bank #jefferies #pidilite_industries #shakti_pumps #sonata_software
Stocks to Watch: Key Financial Reports and Market Outlook for May 8, 2026 The Indian domestic equity market is expected to open lower on Friday, May 8, with the NIFTY50 index projected to decline by 122 points based on GIFT NIFTY futures. This follows mixed signals from the broader market, including earnings reports from major companies and geopolitical factors influencing renewable energy trends. Investors are closely monitoring several stocks, including Britannia Industries, State Bank of India (SBI), Pidilite Industries, and others, as they prepare for potential volatility. Pidilite Industries Ltd reported a significant rise in its consolidated net profit for the March quarter of FY26, reaching ₹584.15 crore, a 36.63% increase from ₹427.52 crore in the same period the previous year. The growth was attributed to volume expansion and improved operating margins. The company’s revenue also rose 13.24% to ₹3,648.16 crore, while total expenses increased 9.23% to ₹2,861.51 crore. For the full FY26, Pidilite’s profit surged 17.86% to ₹2,470.72 crore, with total consolidated income rising 11% to ₹14,867 crore. State Bank of India (SBI) announced plans to raise funds through a $2 billion foreign currency bond issuance in FY26-27. The bank’s executive committee will meet on May 12 to finalize the details, including the issuance of bonds in US dollars or other major currencies. This move comes amid efforts to strengthen the bank’s capital base and manage liquidity. Lupin Ltd, a leading pharmaceutical company, reported an 87.7% jump in consolidated profit after tax (PAT) to ₹1,468.7 crore for the fourth quarter ended March 31. This was driven by strong performance in the US market, where sales rose 56.9% to ₹3,398.7 crore. India sales also grew 11.5% to ₹1,908.#state_bank_of_india #coromandel_international #pidilite_industries #lupin_ltd #britannia_industries
