The Indian stock market experienced a turbulent day on May 9, 2024, with various updates and developments impacting trading activities. The day started with the India VIX spiking over 4%, indicating increased volatility in the market. Broader markets were trading in the red as the Nifty slipped below 22,100, reflecting a bearish sentiment among investors.
Throughout the day, there were several key announcements and events that influenced market movements. The Sensex tanked over 800 points, leading to concerns among traders and investors. The Indian Hotels Company Limited (IHCL) made a significant announcement regarding a partnership with CG Hospitality to expand its hotel portfolio to 25 hotels by 2025.
Foreign institutional investors (FIIs) withdrew Rs 46,000 crore from financial stocks in the first four months of 2024, raising questions about the impact of RBI policies on market dynamics. Airtel also expanded its network footprint in Sabarkantha District as part of its rural network expansion project.
In the IPO space, Go Digit General Insurance announced its IPO opening on May 15, with notable personalities like Virat Kohli and Anushka Sharma not selling shares. Additionally, various companies like EMS, Infosys, and L&T were involved in collaborations and business developments that influenced their stock performance.
The day also saw announcements of quarterly results from companies like SBI, Asian Paints, and BPCL, which were closely watched by market participants. Overall, the stock market was characterized by a mix of positive and negative news, contributing to the volatile trading environment on May 9, 2024.
