Indian benchmark indices, Sensex and Nifty 50, are expected to open weak on May 7, following cues from GIFT Nifty, which was trading around 24,309.50 earlier this morning.

On May 6, the benchmark indices were unable to sustain their early gains and moved lower through the session, with the Nifty closing below the 24,400 mark amid broad-based selling, except in the auto sector.

Indian stock markets are likely to face volatility following India's airstrikes on terror camps in Pakistan and Pakistan-occupied Jammu and Kashmir on the night of Tuesday, May 6. The strikes, carried out in response to the April 22 Pahalgam terrorist attack, targeted a total of nine locations as part of 'Operation Sindoor,' according to a statement from the Ministry of Defence (MoD).

In addition to geopolitical developments, investors will also be closely watching fourth-quarter earnings from companies such as Coal India and Dabur, global market trends, and the trading activity of foreign institutional investors.

On Tuesday, the 30-share benchmark index ended at 80641.07 down by -155.77 points or by -0.19 % and then NSE Nifty was at 24379.6 down by -81.55 points or by -0.33 %.

On the global front, Asian stocks rose at the open and the dollar strengthened on confirmation the US and China will hold dialogue, spurring optimism trade tensions between the world’s two largest economies will ease.

MSCI's global equities gauge fell on Tuesday, while the dollar declined as investors grew frustrated with the lack of U.S. trade deals and waited for a Federal Reserve update, while oil futures rebounded from Monday's sell-off.

On Wall Street, the Dow Jones Industrial Average fell 389.83 points, or 0.95%, to 40,829.00, the S&P 500 fell 43.47 points, or 0.77%, to 5,606.91, and the Nasdaq Composite fell 154.58 points, or 0.87%, to 17,689.66.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 42658262.00, Eternal Ltd. 25327712.00, State Bank of India 18869468.00, Jio Financial Services Ltd. 18568703.00, Bharat Electronics Ltd. 17029890.00,

On NSE, total number of shares traded was 330.33 Crore and total turnover stood at Rs. 90454.16 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 133065 with a total turnover of Rs. 23049.27 Crore. Along with this total number of contracts traded in stock futures were 1397178 with a total turnover of Rs. 85447.25 Crore. Total numbers of contracts for index options were 57614415 with a total turnover of Rs. 10454406.56 Crore. and total numbers of contracts for stock options were 5934225 with a total turnover of Rs. 389420.18 Crore.

The FIIs on 06/05/2025 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 10469.44 Crore and gross debt purchased stood at Rs. 196.66 Crore, while the gross equity sold stood at Rs. 8673.31 Crore and gross debt sold stood at Rs. 149.97 Crore. Therefore, the net investment of equity and debt reported were Rs. 1796.13 Crore and Rs. 46.69