Closing Bell: Market takes Op Sindoor in stride, Sensex up 106 pts, Nifty above 24,400

Indian benchmark indices ended on a positive note with Nifty above 24,400 in the volatile session on May 7. At close, the Sensex was up 105.71 points or 0.13 percent at 80,746.78, and the Nifty was up 34.80 points or 0.14 percent at 24,414.40.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Markets remained volatile but managed to close slightly in the green amid mixed signals. Geopolitical tensions, following India’s military response to a terrorist attack, triggered a gap-down opening. However, a swift recovery helped the indices edge higher by the close. As a result, the Nifty index settled at 24,414.40, up 0.14%. Sector-wise, the trend was mixed—auto, realty, and metal sectors posted gains, while pharma and FMCG ended in the red. Broader markets also recouped intraday losses and closed with gains of over a percent.

Looking ahead, domestic uncertainties are expected to continue driving volatility. However, stable global cues and sustained FII buying are helping to delicately balance the market despite geopolitical risks. All eyes are now on the US Fed, and markets are likely to react to the FOMC meeting outcome and commentary in early trades.

On the index front, Nifty is attempting to hold the 24,100 level; a breach could lead to further downside towards 23,800. Until then, the index is expected to trade within the 24,100–24,600 range. In the current scenario, traders are advised to adopt a cautious approach and avoid aggressive positions until th

Nifty witnessed smart upside bounce after opening lower on Wednesday, the market action after the announcement of 'Operation Sindoor' by Indian armed forces in Pakistan and in POK. After opening with a downside gap, the market showed quick recovery soon after the opening and later shifted into a range bound action with positive bias in mid to later part of the session.

A reasonable bull candle was formed on the daily chart at the lows, which indicates an emergence of buying interest on the decline. Nifty has been in a broader high low range over the last 9-10 sessions and we observe higher low formations as per daily timeframe chart.

The rising wedge type of formation is unfolding in Nifty as per daily timeframe chart. A slide below the initial support of 24200 levels could trigger short term downward correction in the market. However, a decisive move above 24600 could bring bulls back into action.

Indian equity markets exhibited strong resilience amid recent Indo-Pak border tensions, the measured market response indicated that geopolitical risks were largely priced in and expectations of de-escalation is prevailing among investors. At the same time, the progress on the India–UK FTA further buoyed investor optimism, driving gains in key sectors such as textiles, automobiles, and information technology.

Globally, investor sentiment has improved as the United States and China signal a willingness to resume trade negotiations. Meanwhile, China’s recent interest rate cut contributed to a broadly positive tone across Asian markets. Market focus will shift to FOMC meeting, though rate cut appears unlikely, but FED comments will be keenly watched.

Amidst lingering geopolitical concerns and a stronger dollar index, the Indian rupee experienced its most significant single-day drop in a month, continuing its decline for the second day. The easing of trade tensions has allowed the dollar to rebound, negatively impacting major currencies. Furthermore, consistent dollar demand from oil importers and hedgers have exerted downward pressure on the rupee over the past two days.

Spot USDINR is anticipated to trend upward, potentially reaching 85.70 if it holds above 85. Conversely, 84.25 presents a significant support level.

The index continues to consolidate within a narrow range, having failed to move past the 61.80% retracement level of the previous decline from the all-time high of 26,277 to the recent low of 21,743. This consolidation may persist in the near term, as the index appears to be in no hurry to make a decisive move beyond the 24,000–24,550 range.

A decisive breakout above 24,550 could potentially trigger a rally toward higher levels. On the downside, immediate support is placed at 24,200; a break below this level may extend the correction toward 24,000.

#1 Reliance Jio adds 21.74 lakh users vs addition of 17.65 lakh users in February

#2 Bharti Airtel adds 12.50 lakh users vs addition of 15.93 lakh users in February

#3 Vodafone Idea loses 5.41 lakh users vs loss of 20,720 users in February

#4 BSNL adds 49,177 users vs loss of 5.66 lakh users in February

On May 7, 2025, the Indian stock market closed with a modest upside, with the Nifty 50 ending at 24,414.4, up 34.8 points (0.14%) from the previous close, and the Sensex hovering around 80,746. Despite a volatile session marked by geopolitical tensions due to India’s precision strikes in "Operation Sindoor" against terror camps in Pakistan, markets showed resilience. Tata Motors (up 4.95% following demerger approval), ICICI Bank, and Power Grid supported the broader indices. The market’s upside was primarily driven by investor confidence in the non escalatory nature of the military action and easing tariff tensions globally, which helped offset initial fears.

Even as the country is in the middle of a military action against terrorists network across the border, markets witnessed gyration during intra-day trades but eventually managed to shrug off the uncertainty to end slightly higher. While the mood will be of caution due to Indo-Pak war tension, markets could witness choppy sessions with stock-specific activity over next few days.

The market witnessed significant volatility during the day; a subdued start followed by a swift recovery. However, the Index faced resistance at higher levels and traded within a narrow range before closing at 24,414.40 with modest gains of 34.80 points.

The Auto segment extended its outperformance by advancing over 1% followed by Realty, while FMCG and Pharma lagged. Broader market participation remained strong, with Midcap and Smallcap indices outperforming and rising over 1%.

Technically, Nifty50 maintained its key support at 24,250, while 24,500 remains a critical resistance; while a breakout on either sides is likely to determine the next directional move.

Indian rupee ended lower at 84.83 per dollar on Wednesday against previous close of 84.43.

Indian benchmark indices ended on a positive note with Nifty around 24,400 in the volatile session on May 7.

At close, the Sensex was up 105.71 points or 0.13 percent at 80,746.78, and the Nifty was up 34.80 points or 0.14 percent at 24,414.40. About 2121 shares advanced, 1620 shares declined, and 149 shares unchanged.

Tata Motors, Bajaj Finance, Jio Financial, Shriram Finance, Eternal were among major gainers on the Nifty, while losers included Asian Paints, Sun Pharma, Bajaj Auto, Grasim Industries and Reliance Industries.

BSE midcap index rose 1.3 percent and smallcap index added 1 percent.

Among sectors, except FMCG, pharma, all other indices ended in the green with auto, media, realty, consumer durables up 1 percent each.

Indian markets opened on a negative note at 24,233 today, 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.

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.

In the derivatives market, 181 stocks advanced, while 40 stocks saw declines. Significant open interest spurt was witnessed in stocks such as Federal Bank, Phoenix Mills, DMart, Marico, and PNB Housing.

Regarding Nifty, the highest open interest on the call side is concentrated at the 24,500 and 24,400 strike prices, while the highest open interest on the put side is seen at 24,300 and 24,400. The Put-Call Ratio (PCR) stands at 0.98, indicating a relatively balanced market sentiment.

Coal India, APL Apollo Tubes, Blue Star, Dabur India, Mangalore Chemicals & Fertilizers, Niva Bupa Health Insurance Company, Satin Creditcare Network, Sonata Software, Symphony, Tata Chemicals, United Breweries, Voltas, will release their quarterly earnings on May 7.

Indian Rupee declined today after the Indian Army conducted ‘Operation Sindoor’ and struck terrorist camps in Pakistan and POK which weighed on the domestic currency. However, positive domestic markets and a weak US Dollar prevented a sharp fall in the Rupee. US Dollar declined on widening trade deficit.

We expect Rupee to trade with a positive bias on weak Dollar and positive domestic and global markets. FII inflows may also support the Rupee. However, simmering geopolitical tensions between India and Pakistan and a positive crude oil prices may cap sharp upside. Traders may remain cautious ahead of US FOMC meeting outcome today. US Federal Reserve is expected to keep interest rates unchanged. USDINR spot price is expected to trade in a range of Rs 84.40 to Rs 85.10.

The Sensex was up 91.62 points or 0.11 percent at 80,732.69, and the Nifty was up 29.80 points or 0.12 percent at 24,409.40. About 1758 shares advanced, 1648 shares declined, and 113 shares unchanged.

Indian rupee is trading 41 paise lower at 84.84 per dollar on Wednesday against previous close of 84.43.

"Short term market swings during geopolitical events are unsettling, but history shows

that they rarely derail India’s long term growth story. In the long term, the macroeconomic

factors and corporate earnings drive the stock market performance."

Top 5 losers on BSE Healthcare

The company has signed a Memorandum of Understanding (MoU) with IREL (India) to cooperate and collaborate on the development (mining, excavation, refining, etc.) of mutually agreed assets of critical minerals, including rare earth elements (REE), by acquiring assets or sourcing raw materials domestically or internationally. Additionally, the company’s subsidiary has signed a Power Purchase Agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for its 810 MW Solar Power Project at Pugal Solar Park, Rajasthan.

Tera Software consortium Led by their partner ITI received an advance work order (AWO) from BharatNet Project for Middle Mile Network - NER-II with in the States of Arunachal Pradesh, Nagaland and Manipur (Package No.l5), with a total worth of order value of Rs 1901,10,51,507.641 for design, supply, construction, installation, upgradation, operation and maintenance of Middle Mile Network of BharatNet.

NHPC has raised Rs 1945 crore through Unsecured, Redeemable, Non-Convertible, Non-Cumulative and Taxable 6.86% AF Series Bonds 2040 on Private placement basis.

Winners Alliance, the commercial partner of the World Cricketers’ Association (WCA), has announced a new licensing agreement with Nextwave Multimedia, a subsidiary of Nazara Technologies.

Coal India, Punjab National Bank, APL Apollo Tubes, Blue Star, Dabur India, Housing & Urban Development Corporation, Mangalore Chemicals & Fertilizers, MRF, Niva Bupa Health Insurance Company, Sapphire Foods India, Satin Creditcare Network, Sonata Software, Symphony, Tata Chemicals, United Breweries, Voltas, and Wonderla Holidays will release their quarterly earnings on May 7.

Gensol Engineering Limited has approached Securities Appellate Tribunal (SAT) against April 15 interim order of SEBI. The company had filed the appeal on Friday, which will come up for hearing today. As per sources, the appeal has been filed on behalf of company praying for removal of restrictions by SEBI. Read More

The company has signed a Joint Venture Agreement with West Coast Oils LLP to establish a joint venture company for the manufacturing and trading of specialty bitumen products and other allied commodities.

The Sensex was down 84.70 points or 0.11 percent at 80,556.37, and the Nifty was down 20.25 points or 0.08 percent at 24,359.35. About 1587 shares advanced, 1677 shares declined, and 131 shares unchanged.

The Board has approved the appointment of Sumit Zaveri as the Interim Chief Financial Officer of the company, effective May 6. Sumit Zaveri is currently serving as the company’s Group Chief Financial Officer and Chief Business Officer.

The Board has approved the acquisition of 31.66 lakh equity shares of Shriram Overseas Investments for Rs 50.11 crore (at Rs 158.28 per share) from Shriram Investments Holdings (SIHPL).

Sensex was up 122.16 points or 0.15 percent at 80,763.23, and the Nifty was up 46.40 points or 0.19 percent at 24,426.00.

The Prestige City, Indirapuram, has achieved sales of over Rs 3,000 crore across 1,200 units within a week of its launch.

C.S. Muralidharan will superannuate as EVP – Finance & Accounts and Chief Financial Officer of the company, effective July 1, 2025. The Board has appointed Jayashree Satagopan as the Chief Financial Officer, effective the same date.

The Sensex was down 154.38 points or 0.19 percent at 80,486.69, and the Nifty was down 38.70 points or 0.16 percent at 24,340.90. About 1137 shares advanced, 2030 shares declined, and 127 shares unchanged.

Welspun Corp has received an export order for supply of Coated LSAW line pipes and bends from India.

Since the last announcement dated 5th February, 2025 the company received additional orders, cumulatively valued at ~ Rs 1,950 Crore for its India pipes facility.

With these new orders, the current consolidated global order book stands at Rs 19,300 crore (approx).

These orders will be executed in FY26 & FY27.

The company has signed a Memorandum of Understanding (MoU) with IREL (India) to cooperate and collaborate on the development (mining, excavation, refining, etc.) of mutually agreed assets of critical minerals, including rare earth elements (REE), by acquiring assets or sourcing raw materials domestically or internationally.

Additionally, the company’s subsidiary has signed a Power Purchase Agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for its 810 MW Solar Power Project at Pugal Solar Park, Rajasthan.

#1 Profit falls 6.5 percent to Rs 108.5 crore Vs Rs 116 crore, YoY

#2 Revenue rises 2.7 percent to Rs 1,816.7 crore Vs Rs 1,769.4 crore, YoY

#3 Board recommends dividend of Rs 3.75 per share