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Financial & Morning Market Updates- 09 May 25
As India stuck on Lahore’s Air defence system in day and some failed counter attack attempt by Pakistan , brought Indian market down by 0.6% in last 30 mins of trade yesterday. Sensex fell by 400 points. But the positive point is Nifty still remained above critical resistance point of 24200 levels and sensex remained above 80000.
Yesterdays counter attack attempt by Pakistan has made worst day for Indian Rupee as it fell by 1% to 85.71 against dollar. Worst single day fall in 2 yrs amidst Indo-pak war escalation fears .
Amidst Indo-Pak conflict, China’s Defence stocks jumped by 36%
Flights from Mumbai will turn costly as User Development fee has been hiked by Airport Economic Regulatory Auth.
Markets Today
A huge counter attack attempt by Pakistan was neutralised last night, leading to fear of full scale Indo Pak War.
In view of above, Turmoil in markets are set to be seen today. Any fall below 24200 will take Nifty to 23900 levels and next resistance level is at 23450.
A around 1% gap down opening is likely today, will this gap widen or shorten in day is worth waiting for!!!
India’s VIX level jumped 10% to 22 levels showing enormous fear in market
Stock News
L&T Q4 profit jumps 25% yoy
Asian Paints once again has disappointed the investors as the pain has gone more deep, as Q4 results fell by 45%. This is sharpest drop in net profit in last 20 yrs .
Union Bank Q4 net surges 50%
Canara Bank Q4 jumped 33%
IIFL fin Q4 net falls 42%
Biocon Q4 soars by 153%
Kalyan Jewellers Q4 jumps 36%
Suzlon Energy awarded a 50MW wind project in Madhya Pradesh
Titan declares a dividend of Rs 11 per share as it’s Q4 jumps 13%
Gold/Silver
Gold was trading little low/flat at 100000 levels
However silver was little up and trading at 99500 levels.
Sit tight as market will bear the brunt of ongoing conflict. It’s time to sit n watch!!
Happy Investing!!
Disclaimer: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
