NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on May 6

The Indian equity benchmarks are set to stage a gap up opening on Wednesday, May 6, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad surged 184 points to 24,290 mirroring gains in other Asian markets as crude oil declined after US President Donald trump said that a deal with Iran was close.

The Indian equity benchmarks ended lower on Tuesday as investor sentiment was dented after tensions in Middle East escalated after Iran attacked UAE with a barrage of missiles and drones, setting an oil refinery ablaze in the eastern emirate of Fujairah leading to surge in crude oil prices in global markets.

The SENSEX ended 252 points lower at 77,017 and NIFTY50 index declined 86 points to close at 24,033.

Asian markets

China's Shanghai Composite advanced 1.11%, Hong Kong's Hang Seng climbed 0.66% and South Korea's KOSPI index surged 6%. Markets in Japan were closed on account of a holiday/

Wall Street update

Dow Jones Industrial Average rose 0.73%, S&P 500 index advanced 0.81% and tech heavy Nasdaq index gained 1.03%.

Crude oil update

Crude oil prices in the global market dropped to near $107 per barrel (bbl) region during the early market hours on Wednesday after investors focused on Trump’s announcement to pause 'Project Freedom,' in which the US Navy was escorting ships out of Iran amid Strait of Hormuz closure.

Global benchmark Brent crude oil prices dropped to near $107 per bbl from $110 per bbl levels as investors still gauge the impact and the current dynamics of the West Asia conflict. The crude oil prices remained elevated, surging to an intraday high of $114.44 per bbl on Tuesday.

FII/DII activity

Foreign institutional investors (FII) sold shares worth ₹3,621.58 crore on Tuesday while domestic institutional investors bought stocks worth ₹2,602.62 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹1,97,021 crore, data from National Securities Depository Limited (NSDL) showed.

Stocks to watch

The firm said the total consolidated PAT for the year of ₹16,084 crore includes a one-time material provision of ₹1,155 crore (net of tax & NCI) towards employee benefits arising from the implementation of the new labour codes which has been classified under Exceptional Item.

The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of ₹97.76 crore in the January-March quarter a year ago, United Breweries Ltd (UBL) said in a regulatory filing.

However, UBL's revenue from operations was marginally down to ₹4,408.41 crore in the March quarter of FY26. It was at ₹4,427.15 crore in the corresponding period a year ago.

The company, which had posted a consolidated net profit of ₹1,168.75 crore in the corresponding period of the preceding fiscal, said its board has approved the re-appointment of Pawan Munjal as Executive Chairman for another term of five years with effect from October 1, 2026, subject to approval of shareholders at the ensuing 43rd AGM.

Its consolidated revenue from operations in the fourth quarter stood at ₹12,978.28 crore against ₹9,969.81 crore in the year-ago period, Hero MotoCorp said in a regulatory filing.

The company had posted a net profit of ₹1.99 crore in the January-March period a year ago, according to a regulatory filing by Shoppers Stop.

The retail firm is promoted by the Raheja family.

Its revenue from operations increased 13.7% to ₹1,209.79 crore in the March quarter. It was ₹1,064 crore a year ago.