Morning Bell 7th May 2026 by Bajaj Broking
Market Commentary
Indian benchmark indices on 6th May closed on a strong note up by more than 1%. Nifty despite intraday volatile managed to close the session near the days high above 24 ,300 mark . The up move was primarily driven by positive global cues, as developments around a potential US –Iran deal involving easing of transit restrictions through the Strait of Hormuz led to a decline in crude oil prices and improvement in the rupee, boosting overall sentiment .
* At close, the Sensex surged 940 .73 points (1.22 %) to settle at 77,958 .52 , while the Nifty gained 298 .15 points (1.24 %) to end at 24 ,330 .95 .
* Sectorally, the market saw broad - based buying, with major contributions coming from PSU Banks, Private Banks, Realty, Auto, and Pharma stocks, each advancing in the range of 2–3%. FMCG was the only sector that witnessed some selling pressure .
* The broader markets also remained strong, with the Nifty Midcap index rising by 1.76% and the Small Cap index advancing by 1.93 %,
* Gift Nifty signals a flat to positive opening for the Indian market . Nifty spot in today's session is likely to trade in the range of 24 ,100 - 24 ,550 .
Global Updates
* Wall Street ended with big gains on Wednesday, driven by plunging oil prices on renewed hopes that the U.S . and Iran may be closer to ending the war in the Middle East . Sentiment was also boosted by a post - earnings jump in AMD which lifted chip stocks .
* The White House believes that it is nearing a deal with Iran on a one - page memorandum of understanding to end the war in the Middle East, Axios reported . Citing two U.S . officials, the report said the document would lay out a framework for more detailed nuclear negotiations .
* Japan stocks rose more than 5% on Thursday morning trade as it opened after 3 days holiday, with the benchmark Nikkei 225 hitting 62 ,000 for the first time as Asia - Pacific markets rallied .
* The Topix also advanced 2.37%. In Australia, the S&P/ASX 200 rose 0.9%. South Korea’s Kospi reversed some of its recent gains, falling 0.68 %, while the small - cap Kosdaq Index slid 0.56 %
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