Quote on Daily Market Commentary for May 7th, 2026 By Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary for May 7th By Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Indian equity markets are expected to remain sideways in a broader range in the near term amid lack of clarity surrounding the ongoing settlement efforts in West Asia. While strong domestic earnings and resilience in broader markets are providing intermittent support, persistent Foreign Institutional Investor outflows, currency weakness, elevated crude oil prices are likely to keep overall sentiments subdued. Indian markets remained volatile throughout the session, with the Nifty closing flat at 24,326 (-0.02%), amid continued Foreign Institutional Investor outflows, crude oil prices sustaining around USD 100 per barrel, rupee weakness and uncertainty surrounding Iran’s response to the proposed negotiation terms. Broader markets outperformed on the back of strong stock-specific earnings action, with the Midcap100 and Smallcap100 indices gaining 1% and 0.9% respectively. Strong quarterly results from Bajaj Auto, Mahindra & Mahindra, Polycab India, CG Power, PayTm, PB Fintech, Bharat forge supported sentiment in the market. Looking ahead, key earnings to watch on Friday include results from State Bank of India, Titan Company, Bank of Baroda, JSW Infrastructure, Swiggy, ABB India, Hyundai Motor India, Tata Consumer and MCX, among others. Sectorally, Defence and Auto emerged as the top-performing sectors, gaining 2.7% and 2%, respectively, while Consumer Durables and FMCG were among the key laggards.
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