An hour into the trading session, the markets have pared early gains and are now trading flat to slightly in the red. The Sensex is hovering near the 80,700 mark, while the Nifty is around 24,400.
A day after India’s the execution of ‘Operation Sindoor’, a precise and swift military response to the Pahalgam attack that shook the nation on April 22, on Thursday morning, both benchmark indices opened in the green.
The BSE Sensex kicked off the session at 80,912.34, rising by 0.21%, while the NSE Nifty also edged higher, beginning the day at 24,436.25, up 0.09%. The Nifty Bank too joined the rally, opening at 54,846.65, gaining 0.43%.
Key highlights of today’s trading session
Early gainers shine bright
In the early trades, several blue-chip stocks were quick to take the lead. Among the top gainers at this hour are Tata Motors, Axis Bank, IndusInd Bank, Kotak Bank, and PowerGrid, which have shown strong momentum in the first hour of trading.
Laggards stay cautious
However, not all stocks were riding the bullish wave. Some counters remained subdued in morning action. Key laggards at this hour include Eternal, Maruti, ITC, Nestle India and Asian Paints, which were seen under pressure.
Asian markets mirror the mood
Asian markets were also in a buoyant mood on May 8, tracking gains on Wall Street and a stable policy stance from the US Federal Reserve. Japan’s Nikkei 225 was up by 0.13%, Hong Kong’s Hang Seng rose 0.22%, and South Korea’s Kospi inched 0.20% higher. Meanwhile, Taiwan’s benchmark index gained 0.46%, and China’s Shanghai Composite posted a modest 0.10% uptick.
Wall Street closes higher on Fed’s steady hand
Back in the US, markets closed with healthy gains on Wednesday. The Federal Reserve’s decision to hold interest rates steady gave investors some breathing space. The Dow Jones climbed 284.97 points (0.70%), the S&P 500 added 0.43%, and the Nasdaq inched up 0.27%.
Earnings watch: Key names in focus today
As investors scan the markets for fresh cues, all eyes are on a host of prominent companies set to announce their quarterly earnings today, May 8. From industrial heavyweights like Larsen & Toubro and Bharat Forge to consumer-facing giants such as Titan Company, Asian Paints, Britannia Industries, and Kalyan Jewellers, the results are expected to offer a broad snapshot of India’s economic pulse. The spotlight also shines on key financial players like Union Bank of India, Canara Bank, REC, and IIFL Finance, along with notable names in pharma and manufacturing including Biocon, Aarti Industries, and Jindal Stainless. Other firms like Chambal Fertilisers, Dilip Buildcon, Escorts Kubota, MCX, Pidilite Industries, and Zee Entertainment are also on the radar.