By Admin 
Share Market: The increasing tension between India and Pakistan is that the Indian stock market has recorded a huge decline on Friday. On May 9, both benchmark index-concents and Nifty have closed down by more than 50 1 percent. At the end of the trading, the BSE Sensex broke down 880.34 points or 1.10 percent to close at 79,454.47. While the Nifty also fell 265.80 points to 24,008.
The Nifty Bank index declined by 770.40 points or 1.42 percent and closing at 53,595.25. Market experts told the growing tension between Indo-Pak after Operation Sindoor, the reason behind this selling, which was a retaliation on the terrorist attack in Pahalgam, Jammu and Kashmir last April 22. 26 people were killed in this deadly attack, most of whom were tourists. Now the increasing conflict between the two countries has shocked investors. However, experts have also estimated a break on the war soon as India and Pakistan are not competing anywhere on the strategic and economic front.
According to a report by News18, Vinod Nair, research head of Geojit Financial Services, has said, “The market sentiment has not had much impact after the unexpected warnings between the two countries.” Most people hope that the situation will soon become normal due to India’s strong geopolitical situation.
“From the technical point of view, the Nifty is still hovering around the major moving average at different times, which reflects the possibility of further further decline,” says Ajit Mishra, Senior Vice President (Research), Railorkear Broking Limited, says, which reflects the possibility of further further decline. It is kept in the support zone of 23,800, the decline can increase by 23,200 if it breaks further from this level. On the other hand, in the position of rebound, strong resistance may be faced in the 24,400-24,600 range. “He further said,” The growing geopolitical stresses have increased the market volatility to a great extent, as it is evident from India Vicks 2.95 percent on Friday. ”
Nagraj Shetty, Senior Technical Research Analyst of HDFC Securities, said, “Resistance is seen on 24,200 in the index. There is a possibility of bounce from under it to top. Resistance is at zone of 24,150–24,340, while 23,850 can serve as immediate support.
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