Indian Stock Market Opens Steady Amid US-Iran Talks, Midcap and Smallcap Indices Gain

May 7, 2026

Mumbai, May 7: The Indian stock market opened flat on Thursday as discussions to end the conflict between the United States and Iran continue. At 9:21 AM, the Sensex was down by 68 points or 0.09% at 77,889, while the Nifty fell by 24 points or 0.11% to 24,303.

However, there was noticeable buying in the midcap and smallcap segments. The Nifty Midcap 100 index rose by 202 points or 0.33% to 61,563, and the Nifty Smallcap 100 index increased by 97 points or 0.53% to 18,657.

Leading the market at the start were the Nifty Auto and Nifty Metal indices. Additionally, Nifty Healthcare, Nifty Energy, Nifty Commodities, and Nifty India Defense were in the green. Conversely, the Nifty FMCG, Nifty Realty, Nifty Private Bank, Nifty PSU Bank, and Nifty Services sectors were showing losses.

In the Sensex pack, stocks like M&M, Eternal, UltraTech Cement, Maruti Suzuki, Tata Steel, Asian Paints, NTPC, Kotak Mahindra Bank, Trent, Infosys, Axis Bank, and ICICI Bank were in positive territory. Meanwhile, TCS, HUL, Sun Pharma, Power Grid, HDFC Bank, Titan, BEL, Bajaj Finance, Tech Mahindra, Bharti Airtel, HCL Tech, and ITC were among the laggards.

Most Asian markets were trading positively. Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta were all in the green. The US markets also closed higher on Wednesday, with the Dow Jones up by 1.24% and the technology index Nasdaq gaining 2.02%.

Ongoing negotiations aim to bring an end to the US-Iran conflict. According to Iran’s ISNA news agency, a spokesperson for the Iranian Foreign Ministry stated that Tehran would respond. US President Donald Trump expressed confidence that Iran desires an agreement.

Reports indicate that the US is demanding Iran halt its nuclear program and reopen the Strait of Hormuz. President Trump reiterated his belief that Iran is seeking a deal.

Foreign Institutional Investors (FIIs) have been consistently selling off. On Wednesday, FIIs sold equities worth ₹5,834.90 crore, while Domestic Institutional Investors (DIIs) invested ₹6,836.87 crore in equities.