Stock Market, India-pak Tensions: Sensex, Nifty Stare At Selloff; Defence Shares In Focus

Stock marketplace benchmarks Sensex and Nifty are each apt to spot a gap-down commencement connected Friday, May 9, acknowledgment to a crisp escalation successful nan India-Pakistan tensions. Defence stocks specified arsenic Bharat Forge, Bharat Dynamics Ltd, Bharat Electronics Ltd and Hindustan Aeronautics Ltd will beryllium successful focus.  

Investor sentiment appears to person weakened amid reports that Pakistan attempted to target subject installations successful Jammu, Pathankot, and Udhampur utilizing missiles and drones. These attacks reportedly failed.

In response, India is said to person launched retaliatory rocket strikes targeting cardinal Pakistani cities, including Lahore, Islamabad, Sialkot, and Karachi. A full blackout has reportedly been observed crossed Pakistan-occupied Kashmir (PoK).

Additionally, location are reports that nan Indian Navy carried retired rocket strikes connected strategical Pakistani naval bases successful Karachi, resulting successful important harm and wide panic on nan country's coastline. This marks nan first reported naval violative by India against Pakistan since nan 1971 war.

Sensex and Nifty had witnessed immoderate fad-end trading connected Thursday and Gift Nifty astatine past count was quoting astatine a sub-24,000 level. 

"Investors are advised to enactment cautious, debar fierce positions, and attraction connected fundamentally beardown stocks pinch constricted near-term vulnerability to geopolitical risks. Defensive sectors and value ample caps whitethorn connection amended stableness successful nan existent environment,” said Vikram Kasat, Head - Advisory astatine PL Capital.

Anand Rathi successful a statement said while short-term volatility is ever a possibility, it does not expect a structural effect connected Indian equities. The broader marketplace communicative continues to beryllium shaped by India's home macro strength, and not by its outer responsibility lines, it said.

Defence stocks successful focus

Defence stocks are successful attraction coming aft nan Modi authorities reportedly asked defence makers for a gathering arsenic early arsenic adjacent week. In consequence to a mobility connected whether nan authorities had asked nan defence manufacture participants to ramp up accumulation amid deepening of India Pakistan tensions, CMD astatine Bharat Forge Baba Kalyani told CNBC TV18: "We’ve been called to Delhi adjacent week. Our squad is going. I can’t opportunity more.”

Anand Rathi is affirmative connected defence level companies specified arsenic Bharat Forge from a semipermanent perspective. It besides likes defence consumable companies specified arsenic Solar Industries and Bharat Dynamics.

For FY2626, nan defence Budget for India stood astatine Rs 6.81 lakh crore, pinch Rs 1.8 lakh crore allocated for superior expenditure.
 

Published on: May 9, 2025 7:15 AM IST