Stock Market Update 8 July 2026: Sensex Drops Over 400 Pts; Nifty 50 Slips Below 24,300

Both the Sensex and Nifty 50 were trading lower after the market opening on Wednesday, 8 July 2026.

At around 9:23 AM, the Sensex was down by around 434 points (0.56%) to trade at 77,746.02. The Nifty 50 was also trading lower by around 136 points (0.56%) at 24,262.30.

Notably, on Tuesday, 7 July 2026, the indices started positively but closed in the red. At the closing bell, the Sensex stood at 78,180.70, down 0.13%. Nifty 50 stood at 24,398.70, down 0.13%.

How Other Indices Are Performing?

Not just the Sensex and the Nifty 50, but most other Indian indices were in the red during early trading on Wednesday.

At around 9:27 AM, Bank Nifty was down by 366 points (0.63%) to trade at 57,834.30. The Nifty Financial Services index was also down by around 0.76% to trade at 26,780.60.

Among the sectoral indices, Nifty Auto (down 1.21%), Nifty FMCG (down 0.86%), Nifty Metal (down 0.18%) and Nifty PSU Bank (down 1.06%) were trading in the red. Nifty Pharma (up 0.86%) and Nifty IT (up 0.12%) were in the green.

Top Gainers And Losers

At 9:15 AM, about 848 shares advanced, 1,415 shares declined, and 145 shares remained unchanged.

The top gainers on Nifty included ONGC, Dr Reddy's Labs, Cipla, Wipro and Sun Pharma.

The top losers were Shriram Finance, Interglobe Aviation, Bajaj Finance, Asian Paints and Eicher Motors.

What About The Global Markets?

Global markets were mostly neutral to bearish on Wednesday morning.

• S&P 500 futures were little changed as of 11:44 AM Tokyo time.

• Japan’s Topix fell 0.5%.

• Australia’s S&P/ASX 200 fell 1.1%.

• Hong Kong’s Hang Seng rose 1.5%.

• The Shanghai Composite was little changed.

• Euro Stoxx 50 futures were little changed.

Factors Impacting The Markets

• Profit Booking: Wednesday’s decline was usually normal as investors booked profits after five consecutive days of market rallies.

• Fed Policy Outlook: Global markets remained largely flat on Wednesday due to geopolitical concerns and uncertainty surrounding the Federal Reserve’s policy outlook.

• Rupee Opens Lower: The Indian National Rupee (INR) opened 0.2% lower at 95.16 per US dollar on Wednesday. The previous close was at 94.97.

• US-Iran Tensions: After a largely silent last week, the US military forces launched fresh strikes on Iran on Tuesday. This heightened concerns among investors and disrupted global oil supplies.

• Oil Prices Hike: After the recent US strikes on Iran, oil prices surged nearly 3% on Wednesday morning.

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Investor Takeaway

After persistent rallies, Wednesday’s decline seems pretty normal. On one side, investors booked profits. However, there were concerns due to the fresh US strikes on Iran and the Federal Reserve’s policy outlook. Market participants must monitor these developments closely before taking new positions.