Sensex climbs 304 pts, Nifty closes above 24,600 as steady US inflation fuels global rally
Mumbai, Aug 13 (PTI): Stock markets rebounded on Wednesday with benchmark Sensex closing higher by 304 points on buying in metal, auto and pharma shares as steady US inflation data propelled a sharp rally in global markets.
The 30-share BSE Sensex climbed 304.32 points or 0.38 per cent to settle at 80,539.91. During the day, it jumped 448.15 points or 0.55 per cent to 80,683.74.
The 50-share NSE Nifty edged up by 131.95 points or 0.54 per cent to 24,619.35.
Analysts said retail inflation slowing to an 8-year low of 1.55 per cent in July led to the positive trend in domestic equities.
"Indian equities experienced a broad-based optimism as CPI hit an eight-year low, boosting hopes for a revival in discretionary spending, led by autos and metals. Globally, sentiment improved on the extension of China’s tariff deadline and easing oil prices.
"Despite uncertainties around Trump’s trade stance and global risks, India’s growth-inflation dynamics remain favourable for FY26 with risk to marginal downgrade based on tariff updates. India looks forward to the Trump-Putin meet dated 15th August," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Among Sensex firms, Bharat Electronics, Eternal, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Motors and Power Grid were the gainers.
However, Adani Ports, ITC, UltraTech Cement and Titan were among the laggards.
Retail inflation slowed to an 8-year low of 1.55 per cent in July, falling below the Reserve Bank's comfort zone for the first time since January 2019, helped by subdued prices of food items, according to government data released on Tuesday.
"Indian equities advanced on Wednesday, buoyed by easing domestic retail inflation, positive global cues, and renewed hopes of a US Federal Reserve rate cut, Gaurav Garg, Analyst, Lemonn Markets Desk, said.
The BSE smallcap gauge climbed 0.58 per cent and midcap index went up by 0.56 per cent.
Among BSE sectoral indices, healthcare jumped 1.76 per cent, metal (1.22 per cent), auto (1.18 per cent), consumer discretionary (0.96 per cent), industrials (0.70 per cent) and financial services (0.45 per cent).
Oil & Gas and FMCG were the laggards.
Shares of Apollo Hospitals Enterprise Ltd spurted by nearly 8 per cent, emerging as lead gainer among Nifty50 shares after the healthcare services provider reported a 42 per cent jump in profit after tax to Rs 433 crore in the June quarter.
Paytm shares closed higher by 3 per cent as Paytm Payments Services received the Reserve Bank of India's nod to operate as an online payment aggregator.
As many as 2,230 stocks advanced while 1,861 declined and 155 remained unchanged on the BSE.
Among Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled sharply higher. European markets were trading in the green.
The US markets ended significantly higher on Tuesday.
Global oil benchmark Brent crude dipped 0.36 per cent to USD 65.88 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,398.80 crore on Tuesday, according to exchange data. Sensex dropped 368.49 points or 0.46 per cent to settle at 80,235.59 while Nifty went lower by 97.65 points or 0.40 per cent to 24,487.40 on Tuesday.
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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.
