Sensex Falls as US-Iran Tensions Reignite

2026-05-08 04:27 By Jereli Escobar 1 min. read

India’s BSE Sensex fell about 0.6% to open at 77,407 on Friday, following losses from the last session as rising oil prices driven by renewed US-Iran tensions in the Middle East weighed on sentiment and clouded hopes on progress on reopening the Strait of Hormuz.

Investors remained cautious after reports that Iran accused the US of violating a month-long ceasefire following retaliatory strikes near the Strait of Hormuz, although President Donald Trump insisted the truce remained in effect as Washington awaited Tehran’s response to a new peace proposal.

Heavyweight financial stocks led the decline, with key laggards including Axis Bank (-1.4%), HDFC Bank (-1.4%), Bajaj Finance (-1.0%), Shriram Finance (-0.9%), and ICICI Bank (-0.5%).

Other notable losers included Shakti Pumps (-7.2%), Britannia Industries (-4.7%), and Tejas Networks (-2.1%), while top performers were Nuvama (+8.8%) and Shipping Corporation of India (+6.2%).

On a weekly basis, the benchmark index is up 0.7% so far.



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Sensex Finishes on Negative Note
India’s BSE Sensex closed about 0.7% down at 77,328 on Friday, marking the second day of losses, as investor caution rose amid renewed US–Iran hostilities that pushed oil prices higher and ongoing corporate earnings. The US and Iran reportedly exchanged fire in the Middle East, although both sides downplayed the incident. President Trump insisted the truce remained in effect as Washington awaited Tehran’s response to a new peace proposal. Banking and financial stocks remained under pressure, while gains in IT and consumer-focused stocks helped limit losses. State Bank of India (SBI) dropped 6.6% after its quarterly earnings release failed to impress investors. Profits grew yoy in Q4FY26 but came in below analyst expectations. Banking peers such as HDFC Bank (-1.8%), Axis Bank (-1.8%) and ICICI Bank (-1%), all declined. On the upside, Titan Company climbed 4.8% and led gains, after reporting a more than 35% jump in consolidated net profit. For the week, the index logged a 0.5% gain.
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The SENSEX Index Closes 0.64% Lower
The SENSEX Index decreased 500 points or 0.64 percent on Friday to close at 77344 points. The decline was led by Bajaj Finance (-1.88%), HDFC Bank (-1.86%) and Axis Bank (-1.76%). On the upside, the strongest performers were Titan Company (4.86%), Asian Paints (2.74%) and Adani Ports (1.63%).
2026-05-08
Sensex Falls as US-Iran Tensions Reignite
India’s BSE Sensex fell about 0.6% to open at 77,407 on Friday, following losses from the last session as rising oil prices driven by renewed US-Iran tensions in the Middle East weighed on sentiment and clouded hopes on progress on reopening the Strait of Hormuz. Investors remained cautious after reports that Iran accused the US of violating a month-long ceasefire following retaliatory strikes near the Strait of Hormuz, although President Donald Trump insisted the truce remained in effect as Washington awaited Tehran’s response to a new peace proposal. Heavyweight financial stocks led the decline, with key laggards including Axis Bank (-1.4%), HDFC Bank (-1.4%), Bajaj Finance (-1.0%), Shriram Finance (-0.9%), and ICICI Bank (-0.5%). Other notable losers included Shakti Pumps (-7.2%), Britannia Industries (-4.7%), and Tejas Networks (-2.1%), while top performers were Nuvama (+8.8%) and Shipping Corporation of India (+6.2%). On a weekly basis, the benchmark index is up 0.7% so far.
2026-05-08