Sensex Nifty open on a cautious note:Oil prices rise following exchange of fire between US and Iran in Strait of Hormuz

The share markets in India opened on a cautious note on Friday, 8 May, 2026 as oil prices rose following the exchange of fire between the US and Iran in the Strait of Hormuz. Sensex lost 500 points. Similarly, Nifty shed 0.49%. US Iran exchange fire in Strait of Hormuz, fuelling oil prices US President Donald Trump said that Iran attacked its Navy with drones in the Strait of Hormuz. America then carried out retaliatory strikes on Iran drowning their drones and boats. Oil prices jump Following the latest build-up in action in the Strait of Hormuz, the prices of the global oil benchmark, Brent crude, jumped to $101 per barrel.
Stocks like Axis Bank, HDFC Bank, MM, Kotak Bank, Reliance, Maruti and Eternal were among the major losers on the Sensex. Mixed sector-wise performance: Sectorally, on the NSE, Nifty Private Bank and Nifty Oil Gas lost the most, while the Nifty IT rose the highest by 0.69%. Asian markets mostly fall on Friday US markets ended lower overnight Foreign investors sold shares worth ₹341 crore on Thursday Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. Rupee drops Rupee falls 36 paise to 94.58 against the US dollar on Friday. Sensex closed down 114 points yesterday Sensex closed at 77,845 on May 7 yesterday with a decline of 114 points (0.15%). Nifty also fell by 4 points (0.02%), coming down to 24,327.