First Trade: Nifty gains over 500 points to 24,500 post India-Pak ceasefire; Tata Steel up 3%
Asian markets on early Monday (May 12, 2025) buoyed by positive developments on the Indo-Pakistan front together with progress in the US-China trade talks.
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09:36 AM IST
Indian equities opened sharply higher in Monday's trade (May 12, 2025) amid the India-Pakistan ceasefire and other positive global cues, including the US-China trade deal. At the opening bell, the BSE Sensex was higher by 1,511.33 points, or 1.90 percent, at 80,965.80, and the Nifty50 was at 24,514.90, ahead by 506.90 points, or 2.11 percent.
Foreign Institutional Investors (FIIs) net sold Indian equities worth Rs 3,798.71 crore on May 9, and domestic institutional investors (DIIs) net bought equities worth Rs 7,277.74 crore on Friday.
From within the Nifty50 pack, top gainers in early trade included stocks like Jio Financial, Shriram Finance, Axis Bank, Bajaj Finance and Trent, while the laggard was Cipla.
Meanwhile, the India VIX which climbed sharply amid the Indo-Pak tensions declined as much as 20 per cent in Monday's trade.
Sectoral show
Realty, financial services and metals led the gains, while the pharma index was the only loser in trade today. Pharma index toppled over 2 per cent. This comes as US President Donald Trump said he will sign an executive order to slash US drug prices.
Stocks in news today
Dixon Technologies: Dixon Technologies subsidiary Padget Electronics has signed a deal with NxtCell India to manufacture smartphones for French brand Alcatel.
Protean eGov: At Protean eGov, Jayesh Sule has stepped down from the post of Director and CEO.
Jana Small Finance Bank has been slapped with a penalty of Rs 1 crore by the RBI over alleged violation of certain banking rules. In a separate development, the lender has issued more than 5.0 per cent of compulsorily convertible preference shares (CCPS).
Tata Steel: Tata Steel shares will be in focus ahead of its earnings later today.
Asian markets
Asian markets on early Monday (May 12, 2025) buoyed by positive developments on the Indo-Pakistan front together with progress in the US-China trade talks. At the last count, the MSCI Asia Pacific ex Japan index traded with significant gains of 0.6 per cent.
ALSO READ: Asian markets cheer halting of India-Pakistan military action, progress in US-China trade talks
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