POST-MARKET SUMMARY 9th May 2025
On May 9, Indian equity markets extended their losses for the second consecutive session, amid an uptick in hostilities between India and Pakistan, overshadowing positive global cues. The market opened with a gap-down, with the Nifty slipping below the 24,000 mark and remained in negative territory throughout the session, closing near its day’s low.
On the sectoral front, the realty index saw a decline of 2.4%, while the private bank index fell by 1.3%. Conversely, the media, consumer durables, capital goods, and PSU Bank indices saw gains ranging from 0.9% to 1.6%.
NIFTY: The index opened 338 points lower at 23,935 and made a high of 24,164 before closing at 24,008. Nifty has formed an inverted hammer candlestick pattern on the daily chart. Its immediate resistance level is now placed at 24,150 while immediate support is at 23,940.
BANK NIFTY: The index opened 770 points lower at 53,595 and closed at 53,595. Bank Nifty has formed a long legged doji candlestick pattern on the daily chart. Its major resistance level is now placed at 53,900 while major support is at 53,400.
Stocks in Spotlight
▪ Titan Company: Stock surged over 4% following a strong Q4FY25 performance. Net profit rose by 11% to Rs 870 crore while operating revenue jumped 25% YoY to Rs 12,581 crore.
▪ Larsen & Toubro: Stock climbed over 3% after the construction giant reported a 25% growth in net profit for Q4. Revenue also rose by 11% YoY to Rs 74,392 crore.
▪ Bank of India: Stock rose over 2% after the bank's Q4 profit surged by 82.5% to Rs 2,626 crore, with net interest income increasing by 2% YoY to Rs 6,063 crore.
Global News
▪ Asian stocks mostly gained on Friday, buoyed by optimism ahead of the U.S.-China trade talks this weekend, following an initial agreement with the UK that raised hopes for further tariff relief.
▪ European shares also rose, with Germany’s benchmark index reaching an all-time high.
▪ Oil prices climbed, supported by signs of easing trade tensions between the U.S. and China, putting them on track for a weekly gain.
▪ Gold prices rose on Friday, benefiting from a weaker dollar and ongoing geopolitical tensions, heading for a weekly gain.
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