Market Midday, 8 July 2026: Sensex And Nifty 50 Tumble On West Asia Flare-Up

The Nifty 50 and the Sensex showed no signs of recovery in afternoon trade after fresh tension erupted in West Asia. The US launched attacks on Iran and reimposed sanctions on Iranian crude oil sales. At 12:11 pm, the Sensex was down 0.74%, while the Nifty 50 was down 0.71%.

Even broader markets felt the heat. At 12:12 pm, the:

• Nifty Midcap 100 index was down 0.20%

• Nifty Smallcap 100 index was down 0.17%

Top Stocks On Nifty 50

Stocks of the following companies were the top five performers on the Nifty 50 index at 12:13 pm:

• Eternal Ltd.

• Wipro Ltd.

• Hindalco Industries Ltd.

• Bajaj Auto Ltd.

• Trent Ltd.

Stock-Specific Action

• IndiGo, SpiceJet, HPCL and BPCL shares tumbled as much as 5% in early trade after the US carried out fresh strikes on Iran along with the reinstatement of sanctions on Iranian crude sales.

• Cochin Shipyard shares tumbled 2% in early trade after the centre’s offer-for-sale (OFS) opened for retail investors.

• South Indian Bank tumbled over 9% in early trade, marking its single-biggest decline in three months.

• RCF shares climbed nearly 3% in early trade after the company announced essential fundraising and corporate governance decisions.

• INOX India shares rose 3.59% in early trade after the company announced securing orders worth ₹939 crore since 21 May 2026 across its various businesses.

Other Developments

Also in equity markets:

• Knack Packaging shares were listed at ₹188 per share on the National Stock Exchange, at a premium of 10.59% over its issue price. On the Bombay Stock Exchange (BSE), they were listed at ₹186, a premium of 9.41%.

• Kusumgar’s initial public offer (IPO) opened for bidding today. Through the IPO, the company plans to raise ₹650 crore.

• As per sources, the National Stock Exchange IPO is likely to get approval from the Securities and Exchange Board of India (SEBI) by next month, with the issue likely to open in September.

Markets are likely to remain volatile in the remaining trading hours. Much of their direction will depend on how the situation unfolds in West Asia surrounding the US and Iran.

Also Read- Pre-IPO Placements Pick Up As Companies Prepare For IPO Launches