Why Is The Stock Market Crashing Today?
India’s benchmark indices, the Sensex and Nifty, plunged at the open on Friday, 9 May, following heightened military tensions with Pakistan and intensified geopolitical uncertainty. Early morning attacks and blackouts across key Indian cities rattled investor confidence, while broader global markets watched closely amid parallel shifts in U.S.-U.K. and U.S.-China trade dynamics.
Sectoral indices also reflected the turbulence, with Nifty Realty being the worst performer. It dropped by 1.58 per cent to 1,473.60, with all its constituents trading lower.
Indian stock markets suffered sharp losses on Friday, 9 May, as military tensions between India and Pakistan escalated overnight. The Sensex dropped over 900 points at the open, falling below the 80,000 mark, while the Nifty fell by 1.15 per cent to open at 24,005.15, shaken by late-night Pakistani drone and missile strikes neutralised by Indian forces. The geopolitical instability, compounded by sector-wide declines and cautious investor sentiment, overshadowed global cues such as a new U.S.-U.K. trade deal and potential U.S.-China tariff revisions.
Indian equity markets opened deep in the red on Friday, with the BSE Sensex falling over 800 points and the Nifty 50 slipping by more than 250 points, reflecting immediate fallout from intensified Indo-Pak border hostilities. Pre-opening trades had already signalled the plunge — the Sensex had dropped by 4,571 points and the Nifty was down more than 750 points.
The sharp decline followed India's interception of Pakistani drone strikes targeting military installations in Jammu, Udhampur, and Pathankot late Thursday night. The Indian Air Force and Defence Ministry confirmed the threats were neutralised, but widespread blackouts across several northern cities raised investor anxiety.
Anand James, Chief Market Strategist at Geojit Investments, commented, "While an overwhelming majority of Nifty 500 constituents were trading below their respective 10-day SMAs in the last few days, prompting us to take a cautious stance, Nifty closed below this key MA just yesterday and for the first time since 1st April. This has set off a breakdown move, potentially aiming 23,670–23,460."
Sectoral indices also reflected the turbulence, with Nifty Realty being the worst performer. It dropped by 1.58 per cent to 1,473.60, with all its constituents trading lower. Anant Raj Ltd. fell by 4.5 per cent, followed by Macrotech Developers down 2.8 per cent.
However, bucking the trend was Titan Company, whose shares surged nearly 5 per cent to ₹3,525 following strong Q4 results. The Tata Group firm posted a net profit of ₹870 crore, up 11 per cent year-on-year, becoming the top gainer on the Nifty 50 despite the wider market crash.
Globally, Asian markets traded in the green, showing resilience even as U.S. President Donald Trump announced a new trade deal with the U.K., expected to cut tariffs and enable a $10 billion Boeing aircraft purchase. Meanwhile, tariffs on Chinese imports are expected to be reduced from 145 per cent to between 50 and 54 per cent, pending negotiations in Switzerland.
Despite these global developments, investor focus remains fixed on the subcontinent, where continued cross-border military action threatens further financial disruption. The geopolitical overhang continues to dominate market direction in the short term, making consolidation zones around 24,050–23,930 crucial for any recovery.
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Samannay Biswas author
Working as Copy Editor at the Business Desk of Times Now Digital. Dedicated...View More
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