Sensex Falls 880 Points on May 9; India VIX Spikes 7% as Defence, Titan Stocks Gain Up to 4%

On May 8 and 9, 2025, several major Indian companies announced their fourth-quarter fiscal year 2025 (Q4FY25) results, including Larsen & Toubro, Titan Company, Asian Paints, Pidilite Industries, Britannia Industries, REC, Canara Bank, Multi Commodity Exchange of India, Bharat Forge, Union Bank of India, and others. Despite these earnings announcements, the Indian stock market experienced a sharp decline on May 9, with the Sensex falling by 880.34 points to close at 79,454.47 and the Nifty dropping 265.80 points to 24,008, marking a fall of over 1 percent for both indices. The market downturn was driven by pressure on airline, tourism, and realty stocks, contributing to a spike in the India VIX by 7 percent. However, certain sectors showed resilience; defence stocks such as Bharat Electronics, Hindustan Aeronautics, Paras Defence, and Zen Technologies rose between 2 and 8 percent. Titan Company and Larsen & Toubro shares gained around 4 percent each, supported by strong Q4 earnings, while Tata Motors and State Bank of India also posted gains. A smallcap defence stock surged 29 percent over two days despite reporting a Q4 loss. Overall, the market volatility reflected sector-specific divergences amid the broader decline in benchmark indices.