Veteran nuclear scientist R Chidambaram dies at 88
New Delhi (PTI): Veteran scientist Rajagopala Chidambaram, who played a key role in the nuclear tests of 1975 and 1998, died on Saturday, an official of the Department of Atomic Energy said. He was 88.
Chidambaram, who was also associated with the nuclear weapons programme, breathed his last at Jaslok Hospital in Mumbai at 3.20 am, the official said.
He had served as chairman of the Atomic Energy Commission and Principal Scientific Advisor to the government of India.
Chidambaram was conferred with the Padma Shri and the Padma Vibhushan in 1975 and 1999 respectively.
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Markets tumble as India-Pak conflict flares up; Sensex, Nifty tank over 1 pc
Mumbai, May 9 (PTI): Stock market benchmark indices Sensex and Nifty tumbled over 1 per cent each on Friday as tensions soared between India and Pakistan, fuelling fears of a wider conflict.
Besides, steep losses in realty, financial and utility stocks also dented investor sentiments, traders said.
Extending its previous day's decline, the 30-share BSE benchmark gauge tanked 880.34 points or 1.10 per cent to settle at 79,454.47, in a largely range-bound trading.
As many as 2,522 stocks declined while 1,343 advanced and 145 remained unchanged on the BSE.
The NSE Nifty dropped 265.80 points or 1.10 per cent to 24,008.
India on Thursday night swiftly thwarted Pakistan's fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 places in northern and western regions of the country as tensions soared between the two countries.
The Indian armed forces on Wednesday had carried out precise missile strikes on nine terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan under 'Operation Sindoor'.
"A conflict was anticipated, but the market was not expecting the situation to intensify, raising concerns about its duration. However, it is still projected to be a short-lived confrontation, given the strategic advantage and the opponent’s weak economic standing.
"Interestingly, Foreign Institutional Investors (FIIs) continued to invest in the Indian market until yesterday, while retail investors remain slightly cautious at the moment," Vinod Nair, Head of Research, Geojit Investments Limited, said.
From the Sensex firms, ICICI Bank, Power Grid, UltraTech Cement, Bajaj Finance, HDFC Bank, Reliance Industries, Bajaj Finserv, Adani Ports, Mahindra & Mahindra and NTPC were among the laggards.
Titan Company climbed over 4 per cent higher after the Tata group firm reported a 13 per cent increase in its consolidated profit after tax at Rs 871 crore in the March quarter, driven by robust sales.
Larsen & Toubro jumped nearly 4 per cent after the firm reported a 25 per cent increase in consolidated profit after tax (PAT) to Rs 5,497 crore for the quarter ended March 31, 2025, supported by higher revenues and an exceptional gain.
In contrast, Tata Motors, State Bank of India and Asian Paints were among the gainers.
On the weekly front, the BSE benchmark dropped 1,047.52 points or 1.30 per cent, and the Nifty declined 338.7 points or 1.39 per cent.
"Benchmark indices extended their downward trajectory for the second consecutive session on May 9, as heightened geopolitical tensions overshadowed otherwise constructive global cues. On a weekly basis, both the Sensex and Nifty posted losses exceeding 1 per cent, reflecting broader risk-off sentiment," according to Bajaj Broking Research.
The BSE smallcap gauge declined 0.30 per cent, and the midcap index dipped 0.10 per cent.
Among sectoral indices, realty tanked 2.08 per cent, utilities (1.50 per cent), financial services (1.40 per cent), power (1.11 per cent), Bankex (1.04 per cent), FMCG (0.65 per cent) and services (0.63 per cent).
Capital Goods jumped 1.67 per cent, industrials (1.10 per cent), consumer durables (1.29 per cent) and metal (0.17 per cent).
"Markets came under pressure as geopolitical tensions between India and Pakistan intensified," Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,007.96 crore on Thursday, according to exchange data.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled lower, while Japan's Nikkei 225 index and Hong Kong's Hang Seng ended in the green.
European markets were trading higher.
US markets ended in positive territory on Thursday.
Global oil benchmark Brent crude climbed 1.53 per cent to USD 63.80 a barrel.
"...defence-related stocks like Bharat Electronics and Hindustan Aeronautics outperformed, gaining on expectations of increased defence spending.
"Looking ahead, elevated geopolitical risks have significantly heightened market volatility, as reflected in the surge of the India VIX. Investors are advised to adopt a stock-specific approach and refrain from taking aggressive positions until there is more clarity," Mishra said.
On Thursday, the BSE Sensex declined by 411.97 points or 0.51 per cent to settle at 80,334.81. The Nifty ended lower by 140.60 points or 0.58 per cent at 24,273.80.
