Defence-related stocks surge

Sensex closed at 79,454.47 points, down 880.34 points or 1.10 per cent, and Nifty closed at 24,008.00 points, down 265.80 points or 1.10 per cent.

- AGENCIES

Indian stock indices Sensex and Nifty edged lower for the second straight day as the ongoing tensions between Indian and Pakistan have escalated to another level.

Sensex closed at 79,454.47 points, down 880.34 points or 1.10 per cent, and Nifty closed at 24,008.00 points, down 265.80 points or 1.10 per cent. Nifty realty was the worst hit among the sectoral indices - down 2.4 per cent. Amidst this volatility, Nifty and Nifty PSU bank are the only sectoral indices that have managed to remain in the green.

Cumulatively, Sensex and Nifty slumped about 2 per cent each during the week that ended today. Last week, the Sensex and Nifty indices registered their longest weekly winning streak of 2025. Cumulatively, Sensex soared over 1,100 points or 1.5 per cent in the holiday-truncated week. The stock exchanges were closed on May 1 for Maharashtra Day.

Pakistani armed forces have been violating ceasefire and targeting civilian villages and Indian armed forces' posts along the International Border and the Line of Control in various sectors. The attacks were effectively repulsed and a befitting reply was given to the ceasefire violations by the Pakistani side.