Stock Market 9 May: Nifty Holds 24,000 as Sensex Plunges 880 Points Amid Indo-Pak Tensions
The Indian stock market on 9 May, 2025, as geopolitical tensions between India and Pakistan overshadowed positive global cues. The benchmark indices extended losses for the second consecutive day, with the Sensex crashing 880 points and the Nifty 50 struggling to hold the 24,000 mark. Here’s a detailed breakdown of the day’s action and key drivers shaping market sentiment.
Market Snapshot 9 May: Indices Tumble Amid Geopolitical Jitters
- Sensex: Dropped 1.10% (880.34 points) to close at 79,454.47.
- Nifty 50: Dropped 1.10% (265.80 points) to settle at 24,008.
- Nifty Bank: Dropped by 1.42% (770.40 points) to 53,595.25.
For the week, both the Sensex and Nifty recorded losses exceeding 1%, reflecting heightened investor caution.
Sectoral Performance: Realty & Private Banks Drag, PSU Banks Shine
- Worst Performers:
- Nifty Realty: Tumbled 2.3% amid profit-booking.
- Nifty Private Bank: Declined 1.3%, dragged by ICICI Bank (-3.25%).
- Top Gainers:
- Nifty PSU Bank: Rose 1.59% on defensive buying.
- Media, Consumer Durables, and Capital Goods: Gained 0.9–1.6%.
Stock-Specific Moves: Titans Shine, Banks Falter
- Biggest Nifty Gainers:
- Titan Company: Surged 4.18% on robust Q4 earnings.
- L&T: Jumped 4% after strong quarterly results.
- Defense Stocks: Bharat Electronics, Paras Defence, and Hindustan Aeronautics rallied 2–8% amid rising defense sector optimism.
- Major Losers:
- ICICI Bank: Slid 3.25%, contributing heavily to index losses.
- Power Grid, UltraTech Cement, Shriram Finance: Fell 2–3%.
Midcaps & Smallcaps: Mixed Sentiment
- BSE Midcap Index: Ended flat, showing resilience.
- BSE Smallcap Index: Dipped 0.3%, with 190 stocks hitting 52-week lows, including ACC, Vedant Fashions, and Central Bank of India.
Earnings Watch: Swiggy’s Losses Widen
Food delivery giant Swiggy reported a net loss of ₹1,081 crore in Q4 FY24, doubling from ₹554.8 crore YoY. The news added to the broader market’s cautious tone.
Sectoral Indices Snapshot – May 9, 2025
On May 9, Indian sectoral indices displayed mixed performance amid broader market weakness. The Nifty Realty index was the biggest laggard, tumbling 2.38%, followed by the Nifty Financial Services 25/50, which dropped 1.76%, and Nifty Private Bank, down 1.29%. Meanwhile, Nifty PSU Bank emerged as the top performer with a 1.59% gain, reflecting strong investor interest in public sector banks amid market uncertainty. Other notable gainers included Nifty Consumer Durables (up 0.95%) and Nifty Media (up 0.92%). Defensive sectors like FMCG, Pharma, and Healthcare saw marginal declines, while IT and Auto indices also closed slightly in the red. The market action highlights selective buying in PSU and consumer-linked sectors despite rising Indo-Pak tensions pressuring broader indices.
Why Did Markets Fall?
- Geopolitical Risks: Escalating Indo-Pak tensions spooked investors, triggering risk-off sentiment.
- Sectoral Rotations: Profit-booking in recent outperformers like realty and private banks.
- Global Cues Ignored: Markets shrugged off positive trends in Asian and European indices.
Expert Insights: What’s Next?
Analysts advise caution as geopolitical developments could drive short-term volatility. However, sectors like defense, capital goods, and PSU banks may continue attracting interest due to strategic tailwinds.
Key Levels to Watch
- Nifty Support: 23,800 (critical level for bulls).
- Bank Nifty Resistance: 54,000.
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