Indian equity benchmarks opened lower after India’s retaliatory strike on Pakistan as part of operation Sindoor post the horrific Pahalgam attack. As cautious sentiment prevailed, at the open, the BSE Sensex was lower by 609.49 points, or 0.76 per cent, at 80,031.58, and the Nifty50 was at 24,360.75, lower by 18.85 points or 0.08 per cent.
Meanwhile, the broader markets traded with gains, with the midcap stocks outperforming their smallcap peers.
Furthermore, the high beta Nifty Bank index also traded higher, led by index heavyweights, including HDFC Bank, ICICI Bank and IDFC First Bank.
From the Nifty50 pack, top gainers in early trade included stocks like Tata Motors, Jio Financial, Hindalco, Bajaj Finance and SBI Life Insurance, while laggards were Asian Paints, HCL Technologies, Hindustan Unilever (HUL), Titan and Infosys.
Sectoral performance
In a mixed sectoral show, PSU Bank, auto and financial services indices led the gains, followed by private bank and oil & gas gauges, while all other sectors posted losses.
Stocks to watch today
Paytm: Paytm shares will be in focus after the company reported Q4 revenue of Rs 1911 crore, while narrowing loss to Rs 23 crore excluding exceptional items.
HPCL: Shares of the OMC will gain traction after posting strong Q4 numbers on all parameters.
BSE: Shares of the company will be in focus following the company’s strong set of earnings for the March quarter.
Asian markets
Asian stocks traded mixed in Wednesday’s trade (May 7, 2025) as the US and China are heading for formal trade talks this week, raising hopes of de-escalating the ongoing trade war. The key MSCI Asia ex Japan index traded with gains of 0.28 per cent.
Chinese markets led the gains after the central bank slashed the key policy rate to support the economy, while at the same time lowering the amount of cash banks were required to keep in reserve.
