Indian stock market nosedived in the opening bell on Friday, May 9. Sensex crashed by 1,366.47 points, while Nifty 50 dropped by 338.05 points. Stocks like Titan, L&T, and Tata Motors are top gainers, while Power Grid, Ultratech Cement, ICICI Bank, and Nestle are top losers.
Sensex touched an intraday low of 78,968.34, while Nifty 50 hit the day's low of 23,935.75.
In the early trade, Gift Nifty nosedived by as much as 295 points to trade at 23,976. Indian stock market is likely to be impacted by the growing escalation between India and Pakistan war on Friday, May 9. Both countries have shown various locations with drones and missiles in a tit-for-tat.
Meanwhile, the market will be influenced by global cues. Overnight, the US stock market climbed by 0.6% to over 1% with Nasdaq outperforming Dow Jones and S&P 500. Dow Jones climbed 254.48 points or 0.62% to close at 41,368.45, while S&P 500 index ended at 5,663.94, up by 32.66 points, or 0.58%. Tech-heavy index Nasdaq Composite jumped by 189.98 points, or 1.07% to finish at 17,928.14. However, Asian market traded mixed.
Domestic equities will also react to the volatility index, India Vix, which climbed 10 to 21.01, marking its highest level since April 9. Further, volatility could be expected after weekly index expiry on May 8th.
Also, market will react to the US-UK trade deal, where automobile, pharmaceutical, and aviation leaders like Boeing and steel & aluminum received a major boost with the revision in tariffs.
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May 09, 2025, 3:22 pm IST
Stock Market Live Updates: Motherson Sumi Profit Falls Nearly 14% to Rs 165 Crore, Announces Dividend
Motherson Sumi Wiring India Ltd declared its Q4 results on Friday, reporting a drop of 13.84% in its consolidated net profit. The company posted a profit of Rs 164.93 crore for the March 2025 quarter, compared to Rs 191.44 crore in the same quarter last year, as per its filing with the NSE.
Despite the fall in profit, the company has recommended a final dividend of Rs 0.35 per equity share for the financial year ending March 31, 2025.
May 09, 2025, 2:46 pm IST
Stock Market Live Updates: Sensex Plunges 1000 Points At 2.30 PM
On Friday, May 9, the Indian stock market witnessed a significant decline as both Nifty and Sensex tumbled amidst a volatile trading session. By 2:30 PM, Nifty dropped below the crucial 24,000 mark, while Sensex saw a sharp 1,000-point slide, reaching 79,309.
May 09, 2025, 2:20 pm IST
Stock Market Live Update: Intellect Design Stock Rises 1%, Reports Strong Revenue Growth in Q4
Intellect Design announced its Q4 results, with the stock rising over 1%. The company reported an EBITDA of Rs 227 crore and a Profit After Tax (PAT) of Rs 135 crore. Total income for the quarter stood at Rs 749 crore, with platform revenue at Rs 79 crore, license revenue at Rs 174 crore, and AMC revenue at Rs 138 crore. The combined revenue from license-linked sources, including License, Platform, and AMC, amounted to Rs 392 crore, showcasing a solid performance across various revenue segments.
May 09, 2025, 2:04 pm IST
Massive Drop in Gold Rates Today in India
After rising sharply for the past three days and coming close to touching Rs 1 lakh per 10 grams of 24 Karat again, gold prices in India dropped massively today. This fall came after a strong rally driven by rising tensions between India and Pakistan following Operation Sindoor. Across the country, the price of 24 karat gold has come down to Rs 9,835 per gram, down by Rs 125. The rates for 22 karat and 18 karat gold are now Rs 9,015 and Rs 7,376 per gram, respectively.
Sutlej Textiles and Industries Limited, a leading manufacturer and exporter of value-added dyed yarns (synthetic & cotton mélange) with presence in Home Textiles, today reported its financial results for the quarter and year ended 31st March, 2025 where the company posted Consolidated Total Income for Q4FY25 at Rs. 686 Crs; FY25 at Rs. 2699 Crs EBITDA for Q4FY25 at Rs. 16 Crs; FY25 at Rs. 65 Crs
May 09, 2025, 12:26 pm IST
Pakistan Stock Market In Free Fall, Erased Rs 820 Billion
The Pakistani stock exchanges are in a free fall to volatile trading sessions since the country erupted into a war-like situation with India. On May 9th, the Karachi Stock Exchange dropped by 1,106 points before picking up marginal gains.
Result Update: Voltas (VOLT IN) | 4QFY25 Result Update: UCP margin surprises positively
“Voltas’ consolidated revenue grew by ~13% YoY (5% lower vs. JMFe) to INR 47.6bn, led by growth in unitary cooling products (17% YoY) largely driven by better channel fill. EMP business saw muted growth of 4% YoY but the losses have reduced significantly led by improved order booking, better project execution and better working capital management. Even though the management remains optimistic on all product categories, we believe that the delayed summer season, leading to a subdued 1Q, which is their best quarter, can dampen the company’s growth in FY26. Baking in the same, we cut our EPS estimate for FY26 by ~4%. But we increase FY27 EPS by ~1% as believe growth will bounce back once the situation normalises, and Voltas being the market leader will continue to benefit. We maintain our BUY rating, with a revised target price of INR 1,405 (earlier INR 1,470),” said Gaurav Jogani of JM Financial Institutional Securities.
May 09, 2025, 11:19 am IST
Result Update: Bharat Forge | Margins in line; Export prospects clouded by tariff uncertainty
“In 4QFY25, Bharat Forge (BHFC) reported revenue was below our estimate owing to muted CV export demand and weakness in domestic industrial business, excluding defence. Standalone EBITDA margin came-in at 28.5% (+20bps YoY), in line with JMFe. Consol. EBITDA margin expanded 220bps YoY to 17.7% due to easing of losses in overseas operations and E-mobility. The order book for the defence segment remains strong and the management expects 15-20% revenue growth in the defence segment in FY26. Aerospace momentum also remains healthy. However, exports are expected to remain under pressure due to weakness in global CV demand and tariff related uncertainty. Therefore, we have cut our revenue estimates by 8% / 6% for FY26E / FY27E from our previous estimates. We have also reduced our EPS estimates by 13% / 10% for FY26E / FY27E from our previous estimates. We ascribe 32x PE to arrive at Mar’27 fair value of INR 1,250. Maintain BUY,” said Saksham Kaushal of JM Financial Institutional Securities.
May 09, 2025, 10:54 am IST
Market Outlook Today By Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Under normal circumstances, on a day like this, the market would have suffered deep cuts. But this is unlikely due to two reasons. One, the conflict, so far, has demonstrated India’s 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.
Investors should not panic and exit from the market now. Remain invested, monitor the developments and wait for the dust to settle.
While an overwhelming majority of Nifty 500 constituents were trading below their respective 10-day SMAs in the last few days prompting us to take a cautious stance, Nifty closed below this key MA just yesterday and for the first time since 1st April. This has set off a break down move, potentially aiming 23670-460. While we hope 24050-23930 to provide a window for Nifty to consolidate, as maintained in the last couple of days, downside momentum is more likely to prevail over recovery attempts. For the day, we expect value buyers to step in, on dips below 23550. Meanwhile 23850-24050 is likely to be a volatile region which may spark upswings, but we prefer to see above 24150 in order to confirm strength.
May 09, 2025, 10:12 am IST
Nifty Outlook Today By Sameet Chavan, Head Research, Technical and Derivative - Angel One
On the daily chart, Nifty continues to consolidate within a broad range for over three weeks. The recent price action has been erratic, forming a pattern of alternating up and down days. Despite supportive global cues, our markets underperformed, weighed down by concerns surrounding India-Pakistan tensions. If the weakness persists, Nifty may retest the 24150 level, followed by the 200DSMA around 24000. On the upside, resistance is seen at 24400, and a breakout above 24600 is essential to reignite broad-based momentum. In the near term, the trend remains range-bound with a cautious undertone. Given the prevailing geopolitical uncertainty, it is prudent to avoid aggressive overnight positions heading into the weekend.
May 09, 2025, 9:31 am IST
Market Live Updates: Opening Bell
Sensex crashed by 1,366.47 points, while Nifty 50 dropped by 338.05 points. Stocks like Titan, L&T, and Tata Motors are top gainers, while Power Grid, Ultratech Cement, ICICI Bank, and Nestle are top losers.
May 09, 2025, 8:30 am IST
Stock Market Live Updates: Nifty Technical Outlook
Nifty, once again witnessing resistance The 24400 zone has tanked post the lunch session amid ongoing tensions across the border to close near the 24250 zone with bias and sentiment maintained with a cautious approach awaiting further developments in the coming days. As mentioned earlier, the index is precariously placed, having the crucial and important support zone near the 200-period MA at 24050 levels, which needs to be sustained as of now. The support for the day is seen at 24000 levels, while the resistance is seen at 24500 levels, as per PL Capital's note.
May 09, 2025, 8:30 am IST
Market Live Updates: Sensex Technical Outlook
Sensex once again failed to move above the 81000 zone and, amid volatility, closed near the 80300 levels. The bias remains cautious as long as the important 81000 levels are not breached above to establish conviction. The 200 DMA at the 79100 zone would continue to be the important and crucial support level as of now, which needs to be sustained: PL Capital's note said.
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