Indo - Pak War Market LIVE Updates: Sensex falls 695 pts, Nifty tests 24,000 amid India-Pak tensions
Indo - Pak War | Stock Market LIVE Updates, May 9, 2025: In the broader markets, the Nifty MidCap index and the Nifty SmallCap index declined 1.2 per cent and 1.9 per cent, respectively
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India-Pakistan war | Stock Market LIVE Updates Today, Friday, May 9, 2025: Indian equity markets showed resilience on Friday, recouping most of the morning losses within minutes, even as tensions between Indian and Pakistan worsened on Thursday.
The BSE Sensex index, which opened 1,366 points lower, was trading aroind 522 points down at 79,821 level. The Nifty50, too, recovered from an opening level of 23,935 to trade around 24,083 level, down 205 points.
In the broader markets, the Nifty MidCap index and the Nifty SmallCap index declined 1.2 per cent and 1.9 per cent, respectively.
Most of the sectoral indices, including the Nifty Bank, Nifty FMCG, Nifty Metal, and Nifty IT, were trading 1 per cent lower.
India-Pakistan war
In a major escalation, Pakistan launched at least eight missiles towards India, targeted towards Satwari, Samba, RS Pura, and Arnia in Jammu region of Jammu and Kashmir. All of these were either intercepted or neutralised by air defence units.
In a post on X, Integrated Defence Staff wrote, "Military Stations of Jammu, Pathankot and Udhampur in proximity to the International Boundary, in Jammu & Kashmir targeted by Pakistan using missiles and drones. No losses. Threat neutralised by #IndianArmedForces as per SoP with kinetic & non-kinetic means.".
On Friday morning, the Indian Army further informed via social media channels that drone attacks by Pakistan were effectively repulsed and befitting reply was given to the ceasefire violations.
Nifty levels to watch today:
According to Rupak De, senior technical analyst at LKP Securities, the Nifty index closed with a 'Dark Cloud Cover' candlestick pattern on Thursday, indicating heightened fear among traders.
"Prior to this, the index faced resistance around 24,550. The near-term sentiment now appears weak, with the potential for further correction in the short term. Immediate support is seen at 23,950; a break below this level could lead the index down towards 23,450. On the upside, resistance is placed at 24,400 and 24,550," he said.
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Dalal Street watcher VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited lauded India stock market's resilience in the face of rising India-Pakistan tensions, saying that on a day like this, markets, typically, would have suffered deep cuts. But this did not happen as India, so far, has demonstrated clear superiority in conventional war fare, and therefore, further escalation of the conflict will inflict huge damage to Pakistan.
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War Update
The future of the Indian Premier League (IPL) 2025 now looms in uncertainty after match number 58 of the season between Punjab Kings (PBKS) and Delhi Capitals (DC) was called off following raid sirens in nearby cities amidst the cross-border clash between India and Pakistan.
9:54 AM
'Indian markets resilient in the face of border escalation with Pakistan' India-Pakistan News LIVE Updates:
Dalal Street watcher VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited lauded India stock market's resilience in the face of rising India-Pakistan tensions, saying that on a day like this, markets, typically, would have suffered deep cuts. But this did not happen as India, so far, has demonstrated clear superiority in conventional war fare, and therefore, further escalation of the conflict will inflict huge damage to Pakistan.
"Two, the market is inherently resilient supported by global and domestic macros. Weak dollar and potentially weakening US and Chinese economies are good for the Indian market. The domestic macros construct is further rendered stronger by the high GDP growth expected this year and the declining interest rate environment. These are the reasons why FIIs have been on a buying spree in the Indian market during the last sixteen trading sessions," he said.
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Stock Market LIVE Updates: Air sirens sounded in Chandigarh amid India-Pak tensions
India-Pakistan News | Stock Market LIVE Updates: Authorities have sounded air siren in Chandigarh as part of a precautionary measure to remind citizens to remain alert
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Stock Market LIVE Updates: Air raid sirens activated in Chandigarh, residents advised to stay indoors
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First Published: Dec 04 2024 | 12:40 PM IST
