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Bharat Forge, HAL Surge on Border Tensions; Union Bank, Canara Bank Post Strong Q4; Capital Stocks Drag Nifty
Bharat Forge, HAL Surge on Border Tensions; Union Bank, Canara Bank Post Strong Q4; Capital Stocks Drag Nifty
Written by - Fisdom Research
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May 9, 2025
2 minutes
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Market Snapshot
Indian equity indices extended losses for a second straight session on May 9, as rising geopolitical tensions between India and Pakistan overshadowed positive global cues.
The BSE Midcap index ended flat, while the Smallcap index slipped 0.3%.
On the sectoral front, the Realty index was the top loser, falling 2.3%, followed by a 1.3% drop in the Private Bank index.
In contrast, Media, Consumer Durables, Capital Goods, and PSU Bank indices posted gains, rising between 0.9% and 1.6%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
1.6
NIFTY HEALTHCARE INDEX
-0.2
NIFTY CONSUMER DURABLES
1.0
NIFTY AUTO
-0.2
NIFTY MEDIA
0.9
NIFTY PHARMA
-0.2
NIFTY METAL
-0.1
NIFTY IT
-0.3
Top News
Capital market stocks fell sharply on May 9 amid escalating India-Pakistan tensions, dragging the Nifty Capital Markets index down over 2%, while market volatility spiked with the India VIX surging 8%.
PSU bank stocks like Union Bank and Canara Bank gained intraday after strong Q4 results and improved asset quality, helping the Nifty PSU Bank index rebound 3% from the day’s low.
Defence stocks including Bharat Forge, HAL, and Bharat Dynamics rallied 4–5% as geopolitical tensions escalated, with Bharat Forge also reporting better-than-expected margins despite a YoY revenue decline in Q4..
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
TITAN
4.2
ICICIBANK
-3.2
LT
3.8
POWERGRID
-2.7
TATAMOTORS
3.8
ULTRACEMCO
-2.2
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,800
24,250
Bank Nifty
53,000
54,500
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