Indian Markets Open Strong Amid Indo-Pak Tensions; M&M Shares Surge Over 4%

GG News Bureau
Mumbai, 6th May: Despite ongoing geopolitical tensions between India and Pakistan, Indian stock markets opened on a strong note on Tuesday. At 9:15 AM, the Bombay Stock Exchange (BSE) benchmark Sensex was trading 136.53 points higher at 80,933.37, while the National Stock Exchange (NSE) Nifty rose by 30.5 points to 24,491.65.

In early trade, 10 of the 30 Sensex-listed companies were in the green, while 20 traded in the red. Selling pressure was seen in pharma and realty sectors, while Nifty Auto and Metal indices gained.

Top Nifty gainers in the early session included Mahindra & Mahindra (M&M), Hero MotoCorp, Bharti Airtel, ONGC, and Bajaj Auto. On the losing side were Cipla, Dr. Reddy’s Labs, Jio Financial, Titan Company, and Eternal.

BSE Midcap and Smallcap indices were trading in the red. All sectoral indices, except Auto, Telecom, and Metal, showed declines.

Shares of Mahindra & Mahindra (M&M) jumped over 4% in early trade, touching ₹3,150 on the BSE. The auto giant reported better-than-expected Q4 results and announced a significant increase in its annual dividend, drawing positive reviews from brokerages.

Markets now await quarterly results from key companies including Godrej Consumer Products, Bank of Baroda, Aadhar Housing Finance, Paytm, Polycab India, MGL, Hindustan Petroleum Corporation, and CG Power.

Globally, major Asian exchanges including Japan, Hong Kong, and South Korea remained closed on account of Greenery Day. The Australian market traded flat. Meanwhile, Wall Street indices closed in the red overnight, with the Dow Jones slipping 0.24% to 41,218.83 and the tech-heavy Nasdaq falling 0.74% to close at 17,844.24.