Stock market today, May 7 -- The Indian stock market closed with sharp gains on Wednesday, with late-session buying pushing both benchmark indices up by over 1% amid reports that the US and Iran were close to reaching a deal to end their conflict. The Sensex surged 940.73 points, or 1.22%, to finish at 77,958.52, while the Nifty 50 climbed 298.15 points, or 1.24%, to settle at 24,330.95.

However, the market is likely to snap its gaining streak as trends in the Gift Nifty index signalled a negative opening on Thursday. Gift Nifty was trading near the 24,442 mark, down over 5 points from the previous close of Nifty futures.

As the market is pointing towards a negative start, some stocks are likely to remain in focus on Thursday due to the...