Markets React to Operation Sindoor — Here’s How Different Sectors Have Reacted
The Indian equity markets opened on a negative note on the back of heightened geopolitical tensions and mixed corporate cues.
Markets React to Operation Sindoor – Here’s How Different Sectors Have Reacted
The Indian equity markets opened on a negative note on the back of heightened geopolitical tensions and mixed corporate cues. Investors remained cautious as Indian Armed Forces conducted air strikes on nine terrorist sites across Pakistan and Pakistan-occupied Kashmir (PoK) under ‘Operation Sindoor’.
Sector highlights
Banking sector
PSU banks remained under intense pressure amid heightened selling activity after Bank of Baroda reported its Q4 results. PSU Banks lost their value by ₹60,000 crore on May 6.
Auto sector
Shares of Tata Motors went up by 4% today, May 7 after shareholders approved the long-awaited demerger of its commercial vehicle division. This aimed at boosting the business focus.
Textiles
Following the progress in the UK-India Free Trade Agreement, investors are keeping a close watch on the textile, apparel, and AlcoBev companies as they are set to benefit from improved export opportunities and lower trade barriers.
