Mumbai (Maharashtra) [India], May 7 (ANI): Stock markets ended on a positive note on Wednesday, the day India carried out precise strikes on terror infrastructure in Pakistan and PoJK in reponse to the Pahalgam terror attack, with both Sensex and Nifty making marginal gains.
The Indian stock markets witnessed some volatility in the early hours of trade, remained flat towards the later part of the day and closed in green.
At the end of the trading on Wednesday, the BSE Sensex was up 105.71 points or 0.13 per cent at 80,746.78. Nifty 50 at the National Stock Exchange (NSE) was up 34.80 points or 0.14 cent at 24,414.40.
According to the market experts, three factors contributed towards the positive sentiments in the markets despite geo-political tensions. The India-UK free trade agreement, continuous foreign inflows and no sign of escalation between India and Pakistan – shaped the market in a positive mood.
The Nifty opened in a negative territory at 24,233, driven by heightened geopolitical concerns following escalating tensions between India and Pakistan. Following Indian strikes on Pakistan and Pakistan-occupied Kashmir, a broad market downturn ensued.
However, Nifty staged a sharp recovery from the opening tick, reaching an intraday high of 24,449. After an hour of heightened volatility, the index settled into a sideways range.
Sectorally, strength was observed in Auto, Consumer Durables, Metals, Realty, and Energy, while weakness was evident in Consumer Goods, Pharma, and the Healthcare Index.
Observing today’s trade, VLA Ambala, SEBI Registered Research Analyst and Co-Founder of Stock Market Today, said, “Indian markets witnessed resilience, despite increased geopolitical tensions after India’s pre-dawn military attacks under ‘Operation Sindoor’. The market’s composed reaction reflects a mature investor sentiment.”
Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said, “On the global front, traders remained cautious ahead of the Fed’s interest rate decision, with eyes also focused on the U.S. economic outlook.”
According to the market analysts, the potential fallout of India’s retaliation had already been priced in. This resilience is being tested by other prevailing global uncertainties.
The intensifying US-China tariff war has worsened the slowdown in global trade, which had reached 60 per cent of world GDP in 2024.
Additionally, while the US has increased its imports from Mexico and Vietnam, Beijing is dominating major imports.
Meanwhile, higher tariffs on Chinese goods have sparked concerns over tariff-triggered dumping in nations like India, posing risks to the global supply chain and domestic industries, which will be on the radar of investor, said the experts.
Twenty-six people were killed in the terrorist attack in Pahalgam on April 22. The government had said that the perpetrators will face severe punishment. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
