MCX, BSE, Angel One shares tumble up to 6% as rising India-Pak tensions spook investors

MCX, BSE, Angel One shares tumble up to 6% as rising India-Pak tensions spook investors

Capital market stocks recorded significant losses on May 9 as the rising tensions between India and Pakistan scared investors about the implications on the stock market. The sharp fall in the share prices pushed the Nifty Capital Markets index down over 2 percent to stand at 3,609 in the afternoon.

Notably, nervousness prevailed in the domestic equity markets, with the India VIX index jumping as high as 8 percent in the morning trade.

MCX shares crashed over 6 percent to trade at Rs 5,635 apiece. Notably, the fall in the share price was further fueled after the company's Q4 FY25 results, which failed to meet expectations. MCX reported a net profit of Rs 135.46 crore for Q4 FY25, marking a 54 percent rise from the Rs 87.87 crore reported in Q4 FY24. Along with the Q4 results, the company also announced a final dividend of Rs 30 per equity share for FY25.

CAMS and CDSL shares followed, dropping over 2 percent each. The shares of Bombay Stock Exchange (BSE) also plunged over 2 percent to trade at Rs 6,543 apiece. Notably, this comes a day after the stock hit a 52-week high of Rs 6,894 apiece, following its stellar Q4 results.

Angel One shares fell over 1.6 percent, while HDFC AMC and IEX shares fell over 1.2 percent each. Motilal Oswal Financial Services and Anand Rathi shares meanwhile were trading with marginal losses.

Nuvama and 360 One WAM shares, however, bucked the trend to trade in the green.

Indian armed forces conducted targeted military strikes on terrorist outfits across Pakistan under the codename 'Operation Sindoor'. Pakistan retaliated by firing missiles over several locations in India, which were successfully intercepted by the Indian army. What followed was continued cross-border firing overnight.

"Heightened border tensions and weak global cues dragged down markets and the rupee. Investors are advised to stay cautious, avoid aggressive positions, and focus on fundamentally strong stocks with limited near-term exposure to geopolitical risks," said Shrikant Chouhan, head of equity research at Kotak Securities.