POST-MARKET SUMMARY 7th May 2025
On May 7, Indian equity markets remained relatively stable despite the military strikes across the border. The benchmark indices closed with minor gains amid volatility triggered by geopolitical tensions following India's missile attack on terrorist camps in Pakistan and Pakistan-occupied Kashmir (PoK).
The broader market showed resilience, with strong performances in sectors such as Auto, Metal and Realty which gained around 1%. FMCG and Pharma on the other hand slipped up to 0.5%.
NIFTY: The index opened 146 points lower at 24,233 and made a high of 24,449 before closing at 24,414. Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed at 24,450 while immediate support is at 24,300.
BANK NIFTY: The index opened 258 points lower at 54,013 and closed at 54,610. Bank Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed around 54,850 while immediate support is around 54,200.
Stocks in Spotlight
▪ BSE: Stock surged over 6% after the firm announced a 362% YoY increase in its March quarter net profit to Rs 494.4 crore. The Board also recommended a dividend of Rs 23 per share.
▪ Asian Paints: Stock declined over 3% in today’s session, ahead of the Q4 results, amid concerns about slowing urban consumption and increased competition.
▪ MRF: Stock climbed 4% after the release of Q4 results, which revealed a 29% year-on-year increase in consolidated net profit to Rs 512 crore. The company also announced a final dividend of Rs 229 per share for FY25.
Global News
▪ Asian stock markets climbed on Wednesday after China and the U.S. confirmed trade talks would take place this weekend. The rally was driven by strength in property and financial stocks.
▪ European shares fell on Wednesday due to profit-booking after a recent rally, while traders assessed corporate earnings and developments in U.S.-China trade talks ahead of the Federal Reserve's rate decision later in the day.
▪ Gold declined to approximately $3,380 per ounce on Wednesday, following reports that U.S. and Chinese officials are scheduled to meet this week, which reduced demand for safe-haven assets.
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