Delhi, 9 May (H.S.): Indian equity markets started lower due to rising tensions with Pakistan following military provocations linked to India's anti-terrorism measures after the Pahalgam attack. The Sensex initially dropped over 1,300 points in pre-market trading, later stabilizing at a decline of around 500 points. Nifty also fell below 24,000 but reclaimed that level shortly after.

By 9:40 am IST, the Sensex had declined 0.68% to 79,787.78, and Nifty fell 0.79% to 24,081.50.

Key stocks such as Titan and Tata Motors saw gains, while Power Grid and ICICI Bank struggled.

As of 10:15 am, the Sensex stood at 79,462 points, down 800 points, and Nifty at 23,987, down more than 200 points.

Despite the geopolitical strain, analysts noted market resilience due to India's military prowess and favorable macroeconomic conditions, such as a weakening dollar and substantial foreign investments exceeding Rs 2,000 crore.

Factors contributing to market stability included India’s military strength and positive economic indicators, such as anticipated high GDP growth and lower interest rates. Foreign portfolio investors remained net buyers, investing over Rs 2,007 crore on Thursday, with experts advising against panic and encouraging cautious investment strategies amid the ongoing conflict.

Hindusthan Samachar / Jun Sarkar