After Wednesday’s 941-point Sensex surge on the US–Iran MoU, markets head into May 7 with 70 companies reporting results. Crude is sub-$100. Paytm just posted its first annual profit. Here’s everything moving today.
Nifty Prev Close: 24,330 · +298.15 pts · +1.24%
Sensex Prev Close: 77,958 · +940.73 pts · +1.22%
Brent Crude: ~$99.58 · First sub-$100 in months
FII May MTD: +₹2,835 Cr · vs −₹44,281 Cr in April
Why Markets Are Set for a Bullish Open on May 7
Wednesday’s session flipped the market narrative in a single afternoon. The Nifty 50 closed at 24,330.95, up 298.15 points or 1.24%, after US officials confirmed that Washington and Tehran were signing a one-page memorandum of understanding to halt the West Asia conflict, per Business Standard. Brent crude collapsed to near $99.58 a barrel, its first sub-$100 print in months, per Univest Research. For India, importing over 85% of its crude, that number changes the inflation math immediately.
Going into May 7, the setup is the most constructive since the West Asia conflict dragged Nifty to a low of approximately 21,900 in late February; Wednesday’s close at 24,330 represents an 11% recovery from that trough.
Also Check: FII/DII data April 2026
Nifty Targets 24,500 First — Key Support and Resistance Levels
The Nifty formed a positive hammer-like candlestick on the daily chart on May 6, touching 23,997.90 intraday before closing at 24,330.95 near the session high. That pattern signals strong buying at lower levels and points toward continued upside if Thursday’s Asia open holds.
“The close above the 50-DMA at 24,078, combined with the first FII net-buying month in May, makes this the strongest technical setup since the West Asia conflict began in late February. The Put-Call Ratio, stuck in the 0.70–0.75 bearish range through April, should see sharp call buying as short positions unwind.” — Ankit Jaiswal, Senior Research Analyst, Univest Research · May 6, 2026
Key levels for May 7: First resistance at 24,500, then 24,550 and 24,750 if crude holds below $100 at the Asia open. Bank Nifty needs a decisive close above 55,500 for the banking sector to shift from recovery to genuine momentum, per Kunal Singla, Associate Director at Univest. India VIX at or below 17 on Thursday’s open would confirm that institutional fear has meaningfully receded.
Britannia, Dabur, Bharat Forge: Q4 Results Due Today — What to Expect
Around 70 companies report Q4 FY26 results on May 7. The three that will move markets most:
Britannia Industries reports today. The board also considers a final dividend. Brokerages including MOFSL and JM Financial have pencilled in Q4 revenue of ₹4,300–₹4,600 crore (vs. ₹4,125 crore in Q3 FY26), PAT of ₹560–₹610 crore, and EBITDA margins of 18–20%, broadly flat from Q3’s 18.7%. A concall is scheduled for May 8 at 10 AM IST. Investors want two things: margin confirmation and rural volume data. FMCG was Wednesday’s only laggard sector; the Street is not pricing in easy numbers.
Dabur India also reports today and hosts its investor call after results, per TipRanks. MOSL carries a Neutral rating with a ₹515 target. In Q3 FY26, Dabur’s international business revenue declined roughly 4–5% in constant currency terms; the Street wants to know if that trend reversed in Q4. Raw material costs, particularly essential oils and packaging, rose 8–10% YoY in H2 FY26, compressing FMCG margins across the sector.”
Bharat Forge holds its board meeting today at 3:30–4:30 PM IST, announcing Q4 FY26 results and considering a final dividend. In FY25 the company paid ₹9 per share across two tranches. Jefferies maintains a Buy with a ₹2,150 target. Two less-discussed items: subsidiary BFISL is acquiring a 90% stake in RS Aerostructures for ₹36 million, expanding the aerospace book, while simultaneously winding down the loss-making German steel forging unit BF CDP with €30 million in financing approved. Expansion and exit, running at the same time.
Stocks to Watch — May 7, 2026
| Stock | Event | Key Data | Status |
|---|---|---|---|
| Britannia | Q4 FY26 results + dividend | Revenue: ₹4,300–4,600 Cr, PAT: ₹560–610 Cr, EBITDA: 18–20% | Due Today |
| Dabur India | Q4 FY26 results + investor call | MOSL Neutral · Target ₹515 · Rural & international in focus | Due Today |
| Bharat Forge | Q4 FY26 + dividend · Concall 3:30 PM IST | Jefferies Buy · Target ₹2,150 · FY25 paid ₹9/share | Due Today |
| Paytm | Q4 FY26 — Reported May 6 | Revenue ₹2,264 Cr (+18% YoY) · Q4 PAT ₹184 Cr · FY26 PAT ₹552 Cr (first profit) | Reported ✓ |
| Pidilite / Lupin | Q4 FY26 results | Margin and volume trajectory in focus for both | Due Today |
Paytm’s First Annual Profit: The Number and the Catch
One97 Communications reported after Wednesday’s close. Revenue from operations hit ₹2,264 crore, up 18% year-on-year from ₹1,912 crore in Q4 FY25, per Business Standard. Q4 net profit was ₹184 crore versus a loss of ₹540 crore a year earlier. Full-year FY26 PAT reached ₹552 crore against a ₹663 crore loss in FY25, Paytm’s first annual profit. EBITDA swung ₹2,008 crore to ₹502 crore. Merchant GMV grew 27% year-on-year to ₹6.5 lakh crore. Monthly Transacting Users hit 7.7 crore. The company holds ₹13,315 crore in cash.
The number the headline doesn’t show: Q4 net profit declined 18.2% sequentially from ₹225 crore in Q3 FY26, even as quarterly revenue grew 3.2% QoQ. Expenses rose 4.32% QoQ to ₹2,269 crore. The annual profit is confirmed — but at the quarterly level, costs are growing faster than revenue. FY27 ESOP cost guidance of ₹250–300 crore (vs FY26’s ₹174 crore) adds further margin pressure to watch. Analyst consensus: Whalesbook aggregates a Buy consensus with a 12-month median target of ₹1,370 against the May 6 close of ₹1,110, implying 23% upside. Individual targets vary; investors should check MOSL and Jefferies notes post-concall for revised estimates.”
NSE’s ₹35 Dividend and Pre-IPO Surge You May Have Missed
The National Stock Exchange declared a ₹35-per-share final dividend for FY26 on May 5, including a one-time special payout of ₹10, subject to shareholder approval, per Business Standard. Q4 consolidated PAT was ₹2,871 crore, up 8.3% year-on-year. Full-year PAT fell 15% to ₹10,302 crore, a direct consequence of SEBI’s clampdown on weekly options expiries earlier in the year. NSE’s unlisted shares jumped roughly 3% to ₹2,045 on the news.
The exchange has asked bankers to file the draft red herring prospectus by June 15, with an IPO potentially landing by December 2026, per Business Today. Transaction fees grew 39% in Q4, driven by higher equity derivatives volumes. NSE attributed this primarily to increased retail and HNI activity in index options following SEBI’s rollback of some expiry restrictions.”
Crude, Rupee, Gold—The Macro Signals Driving Thursday’s Trade
Also Read: India crude oil inflation impact
Brent crude is near $99.58, its first sub-$100 print since the West Asia conflict began, per Univest Research. The US Dollar Index slipped 0.67% to 97.83 on Wednesday, and the US 10-year yield eased to 4.344%, per Business Standard. The rupee closed Wednesday at ₹94.61 against the dollar, up 68 paise — its strongest single-day move in weeks. MCX Gold futures for June settlement rose 2.05% to ₹1,52,763.
One macro variable not yet priced in: the RBI’s next rate decision is due May 9. If crude holds below $100 through Thursday, the probability of a June rate cut rises, which would directly benefit rate-sensitive sectors: PSU banks, housing finance, and auto. Watch Nifty Bank’s reaction to the 24,500 level as a real-time signal of whether institutional money is rotating into financials.
FAQ
Q: What is the Nifty target for May 7, 2026?
Ankit Jaiswal at Univest Research sets 24,500 as the first resistance, then 24,550 and 24,750 as further upside targets, all contingent on Brent crude staying below $100 at the Asia open. Key support remains at 24,000–23,800, where buyers stepped in on May 6 off the 23,997 intraday low.
Q: What did Paytm report in Q4 FY26?
Revenue of ₹2,264 crore (+18% YoY), Q4 net profit of ₹184 crore (vs a ₹540 crore loss a year ago), and full-year FY26 PAT of ₹552 crore, Paytm’s first annual profit. EBITDA improved by ₹2,008 crore. However, Q4 profit fell 18.2% sequentially from Q3. Source: Business Standard / One97 Communications investor release, May 6, 2026.
Q: When will Britannia’s Q4 FY26 concall happen?
May 8, 2026, at 10 AM IST. The company reports Q4 results today (May 7) and hosts its management call the following morning. Key items to track: margin guidance for FY27, rural volume data, and whether a final dividend is declared alongside results.
Sources: Business Standard (May 6–7, 2026, live market blog + results), One97 Communications investor release, Univest Research (Ankit Jaiswal, Kunal Singla, May 6 note), Whalesbook, NSE/BSE filings, Business Today, Upstox, TipRanks, MOSL, Scanx Trade.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. All data are sourced from May 6–7, 2026, reports and filings. Consult a SEBI-registered advisor before investing.
