New Delhi, May 8 -- The Indian stock market closed with modest gains on Wednesday, May 7, despite escalating tensions between India and Pakistan. The benchmark Sensex initially dropped nearly 700 points to 79,948.80 following India's announcement of Operation Sindoor, which targeted terrorist sites in Pakistan and Pakistan-occupied Jammu and Kashmir.

However, the market quickly rebounded, reaching an intraday high of 80,844.63, before ending the day at 80,746.78-up 106 points or 0.13%. Meanwhile, the Nifty 50 rose by 35 points, or 0.14%, to close at 24,414.40.

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautiously positive as the Nifty 50 index is trading above 24,300.

Speaki...