Stock market recap, May 11 -- The benchmark Nifty 50 had a volatile and weak trading session on Friday, 8 May, opening with a sharp gap-down at 24,233.65 and closing 146.15 points lower, or 0.60%, at 24,180.50, slipping below the key 24,200 mark.

Sentiment remained under pressure amid escalating geopolitical tensions between the US and Iran, which heightened global risk aversion and pushed Brent crude oil prices higher. The surge in crude also weighed on the Indian rupee, which weakened to 94.48 against the dollar, stoking concerns over sustained foreign institutional investor (FII) outflows.

Heavy profit-booking in banking and oil heavyweights such as State Bank of India and HDFC Bank further dragged the index lower, while modest gains...