Post Market, 07 May 2026: Markets Slip After Early Gains

Markets ended slightly lower today, although the session had started on a stronger note. Buying was seen in the first half, with indices staying higher till around mid-day.

But the gains did not hold, and markets gradually slipped lower through the second half.

Closing Bell

Sensex went down 114 points to close at 77,844.52. Nifty 50 slipped 4.30 points to settle at 24,326.65.

Broader Markets

The broader market held up better than the benchmarks, with midcaps rising around 1.2% and smallcaps gaining about 1%.

Across sectors, it was a mixed picture. FMCG, IT, PSU banks and consumer durables remained under pressure. However, buying was seen in auto, defence, media and metal stocks.

Q4 Result Updates

Earnings season continues to drive stock-specific action in the market. Here are some of the key Q4 updates:

• KPIT Technologies: Net profit up 22.6% QoQ at ₹163 crore vs ₹133 crore; revenue up 5.8% QoQ at ₹1,711 crore vs ₹1,617 crore

• CarTrade Tech: Net profit up 53.8% YoY at ₹64.6 crore vs ₹42 crore; revenue up 19.8% YoY at ₹203 crore vs ₹169.5 crore

• Craftsman Automation: Profit up 74.4% YoY at ₹116.4 crore vs ₹66.8 crore; revenue up 27.3% YoY at ₹2,226.4 crore vs ₹1,749.3 crore

• Indoco Remedies: Net loss narrowed by 45% YoY to ₹22 crore vs ₹40 crore; revenue up 22% YoY at ₹476 crore vs ₹390 crore

• MRF: Net profit up 37.6% YoY at ₹702 crore vs ₹510 crore; revenue up 13.7% YoY at ₹8,044 crore vs ₹7,075 crore

• Stylam Industries: Net profit up 31% YoY at ₹38 crore vs ₹29 crore; revenue up 6.8% YoY at ₹283 crore vs ₹265 crore

• Bharat Forge: Net profit down 17.4% YoY at ₹233 crore vs ₹282.6 crore; revenue up 17.5% YoY at ₹4,528 crore vs ₹3,853 crore

• Vardhman Textiles: Net profit down 22.2% YoY at ₹184.7 crore vs ₹237.3 crore; revenue down 0.4% YoY at ₹2,498 crore vs ₹2,508 crore

• Coromandel International: Net profit down 76% YoY at ₹140 crore vs ₹580 crore; revenue up 20.4% YoY at ₹6,004 crore vs ₹4,988 crore

• Escorts Kubota: Net profit up 0.66% YoY at ₹320.5 crore vs ₹318.4 crore; revenue up 21.4% YoY at ₹2,968 crore vs ₹2,444.8 crore

• Gateway Distriparks: Net profit up 131.6% YoY at ₹61 crore vs loss of ₹193 crore; revenue down 0.3% YoY at ₹533.6 crore vs ₹535 crore

• Wonderla Holidays: Net profit up 49% YoY at ₹16.4 crore vs ₹11 crore; revenue up 40% YoY at ₹136 crore vs ₹97 crore

• Ceigall India: Net profit up 71% YoY at ₹126.6 crore vs ₹74 crore; revenue up 37% YoY at ₹1,386.5 crore vs ₹1,011.6 crore

• Karur Vysya Bank: Net profit up 41.2% YoY at ₹725 crore vs ₹513.4 crore; net interest income up 25% YoY at ₹1,359 crore vs ₹1,088 crore

• Westlife Foodworld: Net profit up 55.9% YoY at ₹1.5 crore vs ₹0.8 crore; revenue up 8.7% YoY at ₹655.4 crore vs ₹603.1 crore

Other Key Highlights

• Larsen & Toubro (L&T): L&T’s Buildings & Factories business has secured multiple large orders worth ₹2,500–5,000 crore across Hyderabad, Mumbai and Karnataka. The projects include high-rise residential towers, luxury villas and a hotel development.

• MRF: Tyre maker MRF has recommended a final dividend of ₹229 per share for FY26. This translates to a payout of 2,290% on the face value of ₹10 per share.

• Brigade Enterprises: Brigade Enterprises has announced a bonus issue in the ratio of 1:3 for shareholders. This is the company’s first bonus issue in nearly seven years.

• IIFL Capital Services: Fairfax India Holdings will invest ₹2,000 crore in IIFL Capital Services through a preferential share allotment. The deal will increase Fairfax’s stake and also trigger a mandatory open offer for public shareholders.

• Bajaj Auto: Bajaj Auto announced a ₹5,633 crore share buyback alongside its Q4 results. The company plans to buy back up to 46.94 lakh shares at ₹12,000 apiece, a premium of about 16.3% over the previous closing price.

What Moved The Markets Today?

Markets ended marginally lower today after giving up gains seen earlier in the session.

Global cues, however, remained supportive. Asian markets traded mixed, with Japan’s Nikkei touching record highs, while US markets ended sharply higher overnight. Both the S&P 500 and Nasdaq closed at fresh record levels, helping support sentiment globally.

The focus also remained on developments around the US-Iran conflict. Trump said the war in Iran could end quickly, while Iranian officials stated that the US proposal is still under review. Reports suggesting that Iran has laid out an updated process for ships moving through the Strait of Hormuz also added to hopes that tensions could ease.

Back home, the rupee saw some recovery. It ended at ₹94.25 against the US dollar, around 36 paise stronger than the previous close.

At the same time, FII flows remained negative, with outflows of over ₹5,800 crore in the previous session. Volatility cooled further, with India VIX around the 16.50 mark, reflecting lower nervousness in the market.

Commodities Watch: Gold And Silver

Gold and silver saw strong buying through the session, even as equity markets turned cautious in the second half.

Gold opened at ₹1,52,132 per 10 grams on MCX and moved higher during the day. By around 15:45 IST, it was trading at ₹1,52,985, up ₹853, or about 0.56%.

Silver witnessed a sharper rise. It opened at ₹2,53,265 per kg and climbed to ₹2,60,766 by around 15:48 IST, gaining ₹7,501, or nearly 2.96%.

Also Read - Bajaj Auto Reports Strong Q4FY26 Earnings With ₹5,633 Crore Buyback; Share Rise

What Should Investors Watch Next?

Markets are still reacting to developments around the US-Iran conflict. While hopes around easing tensions have improved sentiment globally, the situation is still evolving.

At the same time, domestic cues remain important. The rupee and FII flows have not fully stabilised yet. Any improvement there could play a key role in supporting markets further.

Sources:

CNBC TV18

Moneycontrol

Livemint