New Delhi, May 7 -- Stock market today, 7 May 2026: Following strong global cues on crashing crude oil prices, the key benchmark indices of the Indian stock market witnessed strong buying on Wednesday. The Nifty 50 index skyrocketed 298 points and closed at 24,330. The BSE Sensex surged 940 points and closed at 77,958. The Bank Nifty index zoomed 1,434 points and closed at 55,981.

The rally was broad-based, with banking, financials, and realty leading the rally, while energy and FMCG remained relatively subdued. Broader markets continued to outperform, with midcap and smallcap indices advancing around 2% each, reflecting improved risk appetite.

The Gift Nifty live chart is signalling a muted opening for the Indian stock market on Thursd...