Sensex, Nifty Loses Gaining Streak, Trades Flat Amid Rising Cross-Border Tensions
The Indian benchmark indices began on a positive note today, but lost its momentum later on, as Indian armed forces launched missile strikes across Pakistan and Pakistan-occupied Kashmir by destroying nine terrorist sites.
Sensex, Nifty Loses Gaining Streak, Trades Flat Amid Rising Cross-Border Tensions
The Indian benchmark indices began on a positive note today, but lost its momentum later on, as Indian armed forces launched missile strikes across Pakistan and Pakistan-occupied Kashmir by destroying nine terrorist sites.
Sensex was up by 181.21 points at 80,927.99 in early trade, while Nifty traded at 24,447.25, up 32.85 points today. However, both the indices traded flat in the later stages. Sensex was down by 24.31 points at 80,730.57 and Nifty tumbled 32.20 points at 24,382.20.
“In the current context of uncertainty investors may wait and watch the developments on the India-Pakistan tensions,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Shares of Tata Motors, Power Grid, Kotak Mahindra Bank, Axis Bank, Adani Ports, IndusInd Bank, Bajaj Finance, and State Bank of India were the major gainers on the Sensex. Eternal, ITC, Maruti, HDFC Bank, and Reliance Industries traded in red.
Foreign Institutional Investors (FIIs) infused ₹2,585.86 crore in the domestic equities market on May 7. Among the Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index, and Hong Kong's Hang Seng traded in green. US markets closed higher on Wednesday (May 7, 2025).
On the crude oil front, Brent crude soared 0.70% to $61.55 a barrel. On Wednesday, May 7, Sensex settled at 80,746.78, up 105.71 points or 0.13%, while Nifty closed with gains of 34.80 points or 0.14% at 24,414.40.
