GIFT Nifty:
GIFT Nifty May 2025 futures were trading 470 points higher in early trade, suggesting a blockbuster opening for the Nifty 50.
India and Pakistan ceasefire:
Tensions between India and Pakistan took a much-needed breather over the weekend as both nations agreed to a ceasefire following days of escalating conflict'the worst the region has seen in nearly three decades. The truce came after a dramatic round of late-night diplomacy led by the United States.
After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE, President Donald Trump declared on Saturday.
The ceasefire, while fragile, appeared to be holding steady over the last 24 hours. However, both sides traded accusations of minor violations.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth 3,798.71 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 7,277.74 crore in the Indian equity market on 9 May 2025, provisional data showed.
According to NSDL data, FPIs have bought shares worth Rs 13229.71 crore in the secondary market during May 2025 (so far). This follows their purchase of shares worth Rs 3243.03 crore in April 2024.
Global Markets:
The US Dow Jones index futures were currently up by 420 points, signaling a strong opening for US stocks today.
Asian stocks kicked off the week on a high note, buoyed by fresh optimism that the long-standing U.S.-China trade tensions might finally be easing. Over the weekend, top officials from both countries huddled in Switzerland for high-stakes talks, and early signals suggest progress.
Both Washington and Beijing struck a hopeful tone. U.S. officials hinted at a potential deal to narrow the trade deficit, while Chinese leaders said the two sides had reached an important consensus'diplomatic speak for 'things went better than expected.'
U.S. Treasury Secretary Scott Bessent called the discussions a great deal of productivity, and Chinese Vice Premier He Lifeng added that a joint statement'one packed with good news for the world'was slated for release on Monday.
This diplomatic thaw follows a red-ink Friday on Wall Street, where the Dow shed 0.29%, the S&P 500 dipped 0.07%, and the Nasdaq barely moved, closing flat at 17,928.92.
Back in D.C., President Trump made headlines of his own. On Sunday, he announced plans to sign what he described as 'one of the most consequential executive orders in our country's history.' The executive order, expected at 9:00 a.m. Monday, aims to slash prescription drug prices by as much as 80%. Trump added that pharma prices could 'rise throughout the world' as part of his plan to level the playing field for American consumers.
Domestic Market:
The key domestic equity benchmarks closed sharply lower Friday as mounting geopolitical tensions rattled investor confidence. The market selloff followed reports from the Indian Army of overnight drone and munition attacks by Pakistani forces along the western border, raising concerns over a potential escalation between the two nuclear-armed nations. The Nifty ended below the 24,010 level. Private banks and real estate stocks bore the brunt of the decline, while PSU banks and consumer durables attracted buying interest. The S&P BSE Sensex tumbled 880.34 points or 1.10% to 79,454.47. The Nifty 50 index fell 265.80 points or 1.10% to 24,008.
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