Sensex Today | Stock Market Highlights: Nifty closes below 24,300 as volatility spikes; Midcaps, Smallcaps end with steeper cuts

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The Day’s Trade, As It Happened

Market Sees A Sharp Fall In The Last Hour Tracking Indo-Pak Tensions

Market Ends Near Day’s Low, Big Fall Seen In Broader Markets

Rupee Sees A Big Fall, Slides Nearly 1.5% To End At Day’s Low

Rupee Records Biggest Single-day Fall In more Than 2 Years

Market Breadth Worsens, Turns In Favour Of Declines, Adv-Decline Ratio At 1:3

45 Nifty Stocks Close In The Red, Stocks Fall Up To 4%

Majority Of Midcap Stocks Record A Big Fall, 94 Of 100 Midcap Index Stocks Slip

Sensex Falls 412 Points To 80,335 & Nifty 141 Points To 24,274

Nifty Bank Falls 245 Points To 54,366 & Midcap Index 1,059 Pts To 53,229

Canara Bank Gains Over 2% Following Strong Q4 Earnings

Bharat Forge, Escorts Kubota, Asian Paints Drop Tracking Q4 Earnings

Symphony, Niva Bupa Reports Healthy Results, Stocks Up 7-8%

UPL Drops 5% After China Imposes Anti-dumping Duty On Cypermethrin Imports

Voltas & Blue Start Slip 2-5% As Q4 Earnings Are Largely Below Estimates

– Mazagon Dock shipbuilders down 3.5% from the highs of the day

– Cochin Shipyard down 4% from the highs of the day

– Garden Reach Shipbuilders is also down 4% from the highs

– Hindustan Aeronautics declines 2.5% from the day’s high

– Bharat Dynamics shares decline nearly 3% from the highs of the day

Pak’s air defence system at Lahore has been destroyed, says Defence Ministry. he India-Pakistan tensions have been escalating ever since India targeted nine terrorist base camp sites in Pakistan and Pakistan-occupied Kashmir (PoK) in the early hours of May 7, calling it ‘Operation Sindoor’.

Asian Paints has announced its Q4 results. The company’s net profit fell by 45% to ₹700 crore, behind the CNBC poll of ₹1,105 crore. Margin of 17.2%. The paint company’s volume growth is 1.8%.

The company shares are trading at a 4-year low. At the BSE, the company shares were trading at ₹2310.00 after the day’s decline of ₹22.65 or 0.97%.

As the Indian markets traded without major movement, the Nifty Midcap soared and then fell off the highs.#CNBCTV18Market | Market at day’s low, #Nifty Midcap 1.7% Off Highs while #Nifty50 & #NiftyBank nearly 0.5% off highs pic.twitter.com/FjUkIswCtk

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

#4QWithCNBCTV18 | Bharat Forge reports its Q4 results

Net Profit at ₹345 Cr vs CNBC-TV18 Poll of ₹383 Cr pic.twitter.com/OPiFBHpsCC

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

#CNBCTV18Market | Market at day’s low, #Nifty Midcap 1.7% Off Highs while #Nifty50 & #NiftyBank nearly 0.5% off highs pic.twitter.com/FjUkIswCtk

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

Havells India on Thursday, May 8, said it received a letter of intent from Yamuna Expressway Industrial Development Authority (YEIDA) to establish an electronics manufacturing unit.

The same will be on 50 acre land in EMC, Sector 10 of YEIDA, in Uttar Pradesh. The company said it intends to use the land for future capacity expansion for manufacturing of consumer goods and home appliances.

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Stock trading in Pakistan has been halted. The Karachi 30 index has fallen by over 10% in the past two sessions alone. This came to pass after India carried out a military action against Pakistan on May 7.

The shares of Canara Bank rose significantly after the company reported its Q4 Results. The company shares rose by over 3%. In the Q4 results, the company reported a 33% rise in its profit numbers at ₹5,000 crore. While NII dipped, the NII and operating profit are higher than estimates.#4QWithCNBCTV18 | Canara Bank reports its Q4 results

????Net Profit Up 33.2% at ₹5,002.7 Cr Vs ₹3,757 Cr (YoY)

????NII Down 1.4% at ₹9,442 Cr Vs ₹9,580 Cr (YoY)

????Gross NPs at 2.94% Vs 3.34% (QoQ)

????Canara Bank NII & Operating Profit higher than estimates pic.twitter.com/3JwH297eCy

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

As we move into the second half of the day’s trading session, here are some stocks to look at, according to Aditya Agarwala of Invest4edu.

– Buy HCLTech for a target price of ₹1,700 with a stop loss of ₹1,550.

– Buy Avenue Supermarts for a target price of ₹4,300 with a stop loss of ₹3,950.

The shares of DB Corp declined by over 5% on Thursday. The company announced its Q4 results. In this, the company saw its net profit decline by over 57%. In addition, revenue and EBITDA also dipped in the quarter that ended in March.#4QWithCNBCTV18 | DB Corp reports its Q4 results

????Net Profit Down 57.3% at ₹52.5 Cr Vs ₹122.5 Cr (YoY)

????Revenue Down 11.2% at ₹547.6 Cr Vs ₹617 Cr (YoY)

????EBITDA Down 52% at ₹82.4 Cr Vs ₹172 Cr (YoY)

????Margin at 15% Vs 27.9% (YoY) pic.twitter.com/g9BySlg2uk

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

The shares of Intellect Design Arena gained over 7.5% in the intraday trade on Thursday. This is in addition to the 3.98% gain made by the company stocks on Wednesday, adding a cumulative gain of over 10% in two sessions.

The current price of Intellect Design Arena stands at ₹878.60 per piece.

The shares of Tata Tech gained over 2% on Thursday. The company’s stocks are in focus; reports have suggested a potential trade deal between US-UK, which may be signed today. In addition, the anchor client of Tata Tech.#CNBCTV18Market | Tata Tech in focus

????Reports say US-UK trade deal may be signed today

????JLR is the anchor client of Tata Tech pic.twitter.com/SLTKatFxqJ

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

Shares of leading players in the cables and wires industry like KEI Industries, Havells India, RR Kabel and Polycab India, rallied up to 3% in morning trade on Thursday amid the upbeat sentiments, following the strong Q4 performance.The Indian wire and cable (W&C) industry delivered a strong performance in the March quarter of the financial year 2025, led by upbeat numbers in the cables and wires segment across major players.

The shares of Vishal Mega Mart rose by over 5% on Thursday. This is coming after a day of decline on Wednesday, when the company shares closed with losses of 5.26%. Before that, the company enjoyed a 6-session-long streak of gains. The current share price stands at around ₹123.58 per piece.

Bharat Forge shares are in focus ahead of its Q4 results today. The company’s consolidated margin may improve YoY on a lower base. Revenue may fall, driven by 5% lower shipments.

The company’s share price stood at ₹1,129.50 after a decline of over 1%.#4QWithCNBCTV18 | #BharatForge to report #Q4 results today, consolidated margin may improve YoY on lower base. Revenue may fall, driven by 5% lower shipment pic.twitter.com/hl0OSsPuEj

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

Market Watch: Sacchitanand Uttekar, VP- Research (Derivatives & Technicals) of Tradebulls

Buy ICICI Bank for a target price of ₹1,485-1,550 with a stop loss of ₹1,434

Buy Adani Ports for a target price of ₹1,400-1,450 with a stop loss of ₹1,330

Market Watch: Sacchitanand Uttekar, VP- Research (Derivatives & Technicals) of Tradebulls

Buy ICICI Bank for a target price of ₹1,485-1,550 with a stop loss of ₹1,434

Buy Adani Ports for a target price of ₹1,400-1,450 with a stop loss of ₹1,330

As markets cool down, here are some stocks to consider according to Sacchitanand Uttekar, VP- Research (Derivatives & Technicals) of Tradebulls.

– Buy ICICI Bank for a target price of ₹1,485-1,550 with a stop loss of ₹1,434.

– Buy Adani Ports for a target price of ₹1,400-1,450 with a stop loss of ₹1,330.

The shares of Asian Paints are in focus, as the company is slated to announce its results today. The company shares were trading with a dip of 0.50%.

When it comes to the Q4 Results, another muted quarter is on the anvil as revenue is likely to remain flat, while margins may narrow from last year.

IndusInd Bank are in focus as rating agency Crisil has placed a long-term rating on ‘rating watch with negative implications’.#IndusIndBank in focus | Crisil places long-term Rtg on ‘rating watch with negative implications’ pic.twitter.com/jfrYqyZ63S

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

The defence stocks are in focus on Dalal Street. The shares of Cochin Shipyard, Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Enginers are trading with major gains on Thursday.

This came to pass after India carried out a crucial military action against Pakistan on May 7.

The shares of HCL Tech made gains of over 1% on Thursday. The company shares hit a daily high of ₹1,584.00. This comes after the company’s shares declined by 1% in Wednesday’s trading session. In the past month of trade, the Gurugram-based company has made gains of over 12%.

The FMCG stocks are under pressure, as they are trading lower in the early hours of the day. In this, Dabur is down nearly 2% after the company posted flat revenue growth and an 8.5% YoY decline in Q4 profit.#CNBCTV18Market | #FMCG stocks trade lower; #Dabur down nearly 2% after company posts flat revenue growth and an 8.5% YoY decline in Q4 profit pic.twitter.com/Vy9M5uqkmt

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

As we start another day’s trade, here are some of the shares you may want to buy/sell, according to Sudarshan Sukhani, Technical Trends.

– Buy Muthoot Finance with a stop loss of ₹2,258

– Buy APL Apollo Tubes with a stop loss of ₹1,621

– Buy Marico with a stop loss of ₹719

– Sell Gujarat Gas with a stop loss of ₹468

Symphony Ltd shares galloped over 11% after it reported a strong set of numbers for the March quarter, with net profit climbing 64.6% year-on-year to ₹79 crore, compared to ₹48 crore in the same period last year.

The shares of Niva Bupa have started the day’s trade with major gains of over 10%. This came to pass after the company reported Q4 net profit jumps 31% to ₹206 crore. Along with that, the gross premiums also rose by 18%.

The Indian Rupee opened and bettered its position against the US Dollar. The currency started the day’s trade at 84.64, against yesterday’s 84.83 against the US dollar.#RupeeCheck | Rupee opens at 84.64/$ vs Wednesday’s close of 84.83/$ pic.twitter.com/pWwChUaGNX

— CNBC-TV18 (@CNBCTV18Live) May 8, 2025

Here are some stocks to watch out for