The Indian stock market opened deep in the red on Friday, May 9, as rising geopolitical tensions between India and Pakistan sparked panic selling across sectors. The Sensex sank over 1,000 points intraday, while the Nifty 50 tested the 24,000 level, reflecting heightened fear and uncertainty among investors.
At around 10:40 AM, the Sensex was down 785 points at 79,548, and the Nifty fell by 254 points to 24,019. Market breadth remained extremely weak — only 400 shares advanced while over 2,200 stocks declined, highlighting the intense selling pressure across the board.
This sharp selloff was triggered by overnight attacks on strategic Indian locations including Jammu Airport and Pathankot Airbase, following heavy artillery shelling and drone strikes by Pakistan. These developments significantly rattled market sentiment, as fears of a broader conflict gripped investors.
“The ongoing India-Pakistan conflict has led to a major spike in market volatility,” with the India VIX index soaring 7% to 22.65 levels, signaling increased nervousness in the market.
The impact was felt across the board. Broader indices such as Nifty Midcap 100 and Nifty Smallcap 100 fell up to 2%, showing that even non-index stocks were not spared. Sector-wise, Nifty Metal, Realty, and Banking were the biggest losers, each falling nearly 1% or more.
Adding to the pressure, the Indian rupee weakened further, opening 12 paise lower at ₹85.84, amid rising global uncertainty and geopolitical risks.
Key Highlights:
Sensex crashes over 1,000 points, Nifty slips below 24,000 intraday.
Geopolitical tensions with Pakistan spark fear-driven selloff in equity markets.
India VIX spikes 7%, reflecting rising volatility and investor nervousness.
Broad-based market decline: 2,233 stocks in the red, only 400 in the green.
Midcap and smallcap indices down up to 2%, showing widespread damage.
All sectoral indices trade in red, led by Metal, Realty, and Banking stocks.
Rupee opens weaker at 85.84, adding to market woes.
As the India-Pakistan conflict escalates, the stock market is expected to remain volatile in the near term. Investors are advised to tread cautiously and stay updated with geopolitical developments that could influence market direction.
Stay tuned for stock market live updates and real-time insights on this developing situation.
