POST-MARKET SUMMARY 8th May 2025

On May 8, Indian equity indices closed lower as investors remained concerned about escalating tensions between India and Pakistan following the neutralization of an air defence system in Lahore. The US Federal Reserve chief's comments on rising inflation and labour market risks, which could affect economic growth in the US, further dampened investor sentiment.

Most sectoral indices ended in the red, with metal, oil & gas, pharma, PSU Bank, auto, consumer durables and realty all down by 1-2%. Only IT and Media sectors showed an upmove.

NIFTY: The index opened flat at 24,431 and made a high of 24,447 before closing at 24,273. Nifty has formed a bearish candle on the daily chart. Its major resistance level is now placed at 24,360 while its critical support is at 24,100.

BANK NIFTY: The index opened 191 points higher at 54,801 and closed at 54,365. Bank Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed around 54,600 while immediate support is around 54,000.

Stocks in Spotlight

▪  Coal India: Stock jumped 3% intraday, following the announcement of a solid performance for the March quarter (Q4FY25). Net profit climbed 12% to Rs 9,604 crore while margin expanded to 31.2% from 29.8% in the year-ago quarter.

▪  Niva Bupa: Stock surged 15%, reaching a four-month high, following the release of strong Q4 results that exceeded market expectations. Net profit jumped 31% to Rs 206 crore while net premium written grew 21% YoY to Rs 1,672 crore.

▪  Canara Bank: Stock gained nearly 3% after the bank reported a 33% jump in net profit to Rs 5,002.7 crore while net interest income climbed 1.4% YoY to Rs 9,442 crore.

Global News

▪  European markets inched higher on Thursday, buoyed by U.S. President Donald Trump’s announcement of a potential trade deal with the UK. Europe’s major stock indices approached recent highs, with Germany’s export-driven DAX showing a possible gain of over 1%, though the outcome remains uncertain.

▪  U.S. stock futures also rose on Thursday, with contracts for all three major indices climbing. Investors reacted positively to President Trump's trade deal announcement with the UK, ahead of a news conference scheduled later in the day.

▪  Gold continued its downward trajectory, falling to around $3,330 per ounce on Thursday. The decline was attributed to a cautious outlook on U.S. interest rates, which reduced the appeal of the non-yielding asset.

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