Market Report- Markets lose steam post higher opening

After opening higher, the Indian stock markets have quickly given up their early gains to trade flat on May 7, 2026. Indian equities quickly lost momentum as profit booking set in. The Sensex and Nifty slipped into the red, erasing early gains, with banking and FMCG stocks dragging indices lower. At 9.29 am, Sensex slipped by 0.07% or 56 points to 77,902. The Nifty gained 0.01% or 2 points to 24,332.

Rupee Check-

Rupee opened at 94.74/$ Vs. May 06 close of 94.61/$,

Global Update-

Asian stocks hit record high, dollar wobbles on US-Iran peace deal hopes.

European stocks close higher amid growing optimism for US-Iran peace deal.