Markets snap 3-day losing run; Sensex jumps 1,000 pts as financial, telecom shares gain
Mumbai, Jun 20 (PTI): Equity benchmark indices Sensex and Nifty rebounded sharply by over 1 per cent on Friday after sliding for the past three sessions, propelled by bargain hunting in financial, telecom and tech stocks amid a correction in global crude prices.
A largely supportive trend overseas and renewed foreign capital inflows supported domestic equities following signs of easing tension in the Middle East, traders said.
After a flat start, the BSE Sensex later found its mojo back and surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. During the day, it jumped 1,132.62 points or 1.39 per cent to 82,494.49.
The 50-share NSE Nifty climbed 319.15 points or 1.29 per cent to 25,112.40.
As many as 2,463 stocks advanced while 1,484 declined and 147 remained unchanged on the BSE.
This week, the BSE benchmark gauge jumped 1,289.57 points or 1.58 per cent, and the Nifty surged 393.8 points or .59 per cent.
"Equity indices surged as Middle East tension moderated with risk of immediate military actions reduced as US dialogue with Iran is expected to take place. The development led the crude price to correct, favouring domestic markets and boosting foreign investors' sentiments.
"In the broader market, rapid fall in VIX index and buying was witnessed in rate sensitives and consumer-oriented sectors like Finance, Auto and Reality and in anticipation of better Q1FY26 results led by rate cuts benefits, drop in inflationary pressure and rebound in consumer spending," Vinod Nair, Head of Research, Geojit Investments Limited, said.
From the Sensex firms, Bharti Airtel, Nestle, Mahindra & Mahindra, Power Grid, Reliance Industries, NTPC, Eternal and HDFC Bank were among the biggest gainers.
In contrast, Maruti was the only laggard.
The BSE midcap gauge jumped 1.20 per cent, and smallcap index climbed 0.55 per cent.
All BSE sectoral indices ended higher. Telecommunication surged 2.73 per cent, realty (2.22 per cent), teck (1.42 per cent), capital goods (1.17 per cent), bankex (1.15 per cent), consumer discretionary (1.12 per cent) and metal (1.10 per cent).
"Sentiment improved after the news report indicated a possible de-escalation in the Iran-Israel conflict, with the US signalling a delay in potential action, which led to a softening in crude oil prices. Additionally, consistent buying by FIIs in the cash segment further supported the market," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
In Asian markets, South Korea's Kospi and Hong Kong's Hang Seng settled in positive territory, while Japan's Nikkei 225 index and Shanghai's SSE Composite index ended lower.
Markets in Europe were trading higher in mid-session trade.
US markets were closed on Thursday for the Juneteenth holiday.
Global oil benchmark Brent crude dropped 1.93 per cent to USD 77.33 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 934.62 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 605.97 crore.
On Thursday, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. The Nifty dipped 18.80 points or 0.08 per cent to 24,793.25.
"In the absence of any major domestic events, global markets will continue to guide sentiment. We maintain our positive yet cautious stance and advise focusing on stock selection, particularly in line with sectoral trends," Mishra said.
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Oppn, X users flag concerns over US envoy Sergio Gor’s visit to Army’s western command
New Delhi: A visit by the US Ambassador to India, Sergio Gor, to Chandigarh on Monday has triggered sharp criticism from opposition leaders and social media users, raising questions about national security and foreign policy.
On X, Ambassador Gor announced his visit, writing, “Just landed in Chandigarh. Looking forward to visiting the Western Command of the Indian Army.”
Just landed in Chandigarh. Looking forward to visiting the Western Command of the Indian Army
— Ambassador Sergio Gor (@USAmbIndia) February 16, 2026
Soon after, opposition voices questioned the broader implications of the visit. Congress Kerala, in a post, commented, “Why so much panic? We’ve already seen Pakistan's ISI getting access to Pathankot Airbase with this government's blessings. Didn't they say then ‘Modi ne kiya ho to kuch soch samajh kar kiya hoga?’ Compared to that, this is very small.”
Why so much panic? We’ve already seen Pakistan's ISI getting access to Pathankot Airbase with this government's blessings.
— Congress Kerala (@INCKerala) February 16, 2026
Didn't they say then "Modi ne kiya ho to kuch soch samajh kar kiya hoga?"
Compared to that, this is very small. pic.twitter.com/gNNuAGQBPC
Shiv Sena (UBT) leader Priyanka Chaturvedi also weighed in, writing, “Since India’s national strategic interests are now tied to what US wants India to do, this visit seems to sync with that.”
She further added, “India’s history will remember the de-escalation announcement between India and Pak was announced on social media by the US President before Indians got to know from their own government. US Ambassador is doing the job for his nation, who is doing for us? The answer is blowing in the wind.”
Since India’s national strategic interests are now tied to what US wants India to do, this visit seems to sync with that. India’s history will remember the de-escalation announcement between India and Pak was announced on social media by the US President before Indians got to… pic.twitter.com/rYMq5NhJHA
— Priyanka Chaturvedi🇮🇳 (@priyankac19) February 16, 2026
The visit comes against the backdrop of the growing US-India defence partnership.
Writer and political analyst @rajuparulekar commented on ‘X’, “East India Company is back!”
“Is it allowed for an ambassador to visit any army unit in india?” asked another user.
Several X users expressed concerns over the appropriateness of the visit.
One asked, “Is it allowed for an ambassador to visit any army unit in India?” Another wrote, “Why an ambassador visiting our army places? To talk to Chandigarh lobby for F-35?”
Why an ambassador visiting our army places ? To talk to chandigarh lobby for f-35 ??
— Rohan Sagar (@RohanSagar03) February 16, 2026
“We have completely sold Indian sovereignty. Rothschild the evil Bankers will now control NSE. Modi sold Bharat Mata to Trump . And now American imperialist is visiting our army command . Scary,” wrote another user.
“The Indian Army isn’t part of geopolitics, so why is he interested in visiting there?,” opined another.
The Indian Army isn’t part of geopolitics, so why is he interested in visiting there?
— Aditya Pratap Singh (@Adi_IIMCIAN) February 16, 2026
On Sunday, Gor welcomed Admiral Samuel Paparo, Commander of the United States Indo-Pacific Command (INDOPACOM), highlighting efforts to expand the growing US-India defence partnership.
In a post on X, Gor wrote, “Delighted to have @INDOPACOM Commander Admiral Samuel Paparo in India to expand the U.S.-India defense partnership. Now is the time to strengthen vital cooperation between our two nations.”
On Monday, Admiral Samuel J. Paparo Jr visited the headquarters of India’s Western Army Command along with the American envoy Sergio Gor. The delegation was briefed on the formation’s capabilities, its past operations, and future plans.
The American delegation also visited Bengaluru, where they met three start-ups, two in the space sector and one in defence, and participated in an Indo-US conference.
