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Informist, Wednesday, Jul. 8, 2026

 

By Arundathi A R

 

MUMBAI – Bears took charge of the domestic equity market in the final two hours of trade on Wednesday, after US President Donald Trump said the ceasefire with Iran was over. Asked about the ongoing negotiations with Iran, Trump said, "As far as I'm concerned, it's over," and it was "a waste of time dealing with them," according to reports. Renewed military strikes exchanged by the US and Iran have rekindled supply disruption fears in West Asia. A sharp surge in the September futures contract of Brent Crude oil led benchmark indices to settle with a loss of over 2?ch on Wednesday. Crude oil prices rose 6%, compared to their rise of 2?rlier.

 

"I don't want to deal with them anymore, they're scum," BBC News reported, quoting Trump at a summit of the North Atlantic Treaty Organization in Turkey. "They're sick people, they're led by sick people... As far as I'm concerned, it's over." According to the report, Trump added that negotiators on both sides could continue the talks, but "I think they're wasting their time."

 

NATO chief Mark Rutte said the US strikes were "absolutely necessary", accusing Iran of "basically violating the ceasefire," BBC News reported. However, Mohammad Bagher Ghalibaf, Iran's Parliamentary speaker, said the US had breached the truce. Late Tuesday, the US said it had fired at more than 80 Iranian targets after attacks on three oil tankers in the Strait of Hormuz.

 

On Wednesday, the Nifty 50 settled at a nearly one-month closing low of 23882.05, down 516.65 points from Tuesday's close. The 50-stock index closed below the 24000 level after five consecutive sessions. The index is nearly 1300 points below its pre-war levels. The BSE Sensex settled at 76503.60, down 1677.12 points. Compared to its earlier rise of 7%, India VIX settled 26% higher at 14.6800 points.

 

Analysts see the close below 23800 pushing the Nifty 50 towards 23400–23500 points. According to Ruchit Jain of Motilal Oswal, the index will find support at around 23600 points and face resistance at 24500 points. 

 

At 1440 IST, Brent Crude futures on the Intercontinental Exchange were up over 6% at $78.77 a barrel. Crude oil prices, however, remained below $80 a barrel, and were 8% higher than the pre-war levels of $72.87 a barrel.

 

While around 10 Nifty 50 constituents traded higher earlier, the number fell to four at close. All broader market indices as well as sectoral indices closed in negative territory. However, mid-cap indices outperformed, closing nearly 2% lower each, while most small-cap indices closed over 2% lower each. 

 

Indices tracking sectors ended lower, with most logging over 2% losses. The Nifty PSU Bank was the key loser among them, down almost 3%. The Nifty Bank, Nifty Private Bank, Nifty Financial Services, and Nifty FMCG were the other major losers.

 

Among Nifty 50 stocks, Jio Financial Services ended as the major drag, down over 5%. Shriram Finance, Kotak Mahindra Bank, Bajaj Finance, and HDFC Life Insurance Co. fell 2.9-4.9%. In the Nifty 200 and Nifty 500 indices, L&T Finance was among the major losers, down almost 6%. 

 

With the rise in crude oil prices, shares of InterGlobe Aviation ended as the second-biggest losers in the index. Shares of the company were down over 5% and closed lower for the fourth straight session. Major oil marketing companies also fell due to the sharp rise in oil prices. Shares of Hindustan Petroleum Corp., Bharat Petroleum Corp., and Indian Oil Corp. were down 3.2-4.7%.

 

Jubilant Foodworks was among the key laggards in the Nifty 200 index, down nearly 6%, while Aegis Logistics was the biggest drag on the Nifty 500 index, hitting the 10% lower circuit.

 

Oil and Natural Gas Corp., Bajaj Auto, Hindalco Industries, and Coal India were the sole gainers in the Nifty 50 index. ONGC, the oil exploration company, ended as the top gainer in the index, up over 1%. The three other stocks were largely flat to 0.5% higher.

 

Kalyan Jewellers India ended over 5% higher, and was the major gainer in the Nifty 200 and Nifty 500 indices. The stock closed higher after three sessions of decline. Multi Commodity Exchange of India was nearly 4% higher in both the Nifty 200 and Nifty 500 indices.

 

* Of the Nifty 50 stocks, 4 rose, 46 fell

* Of the Sensex stocks, 0 rose, 30 fell

* On the NSE, 699 stocks rose, 2,633 fell, and 79 were unchanged

* On the BSE, 1,086 stocks rose, 3,196 fell, and 181 were unchanged
* Nifty PSU Bank: down 2.7%; Nifty Private Bank: down 2.5%; Nifty Bank: down 2.5%

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BSE                                              NSE

Sensex: 76503.60, down 1677.12 points, or 2.2%   Nifty 50: 23882.05, down 516.65 points, or 2.1%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 95.5550

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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