Sensex falls 155 pts as investors turn cautious amid India-Pak tensions
Mumbai, May 6 (PTI): Benchmark indices Sensex and Nifty ended lower in a range-bound trade on Tuesday due to profit booking, mainly in banking and oil shares, and investors staying on the sideline amid escalating tensions between India and Pakistan.
Snapping its two days of gains, the 30-share BSE Sensex declined 155.77 points or 0.19 per cent to settle at 80,641.07. During the day, it dropped 315.81 points or 0.39 per cent to 80,481.03.
The NSE Nifty dipped 81.55 points or 0.33 per cent to 24,379.60.
The trading activity was range bound ahead of the US Federal Reserve’s policy decision and concerns over US-China trade negotiations, analysts said.
The Union Home Ministry has directed states and UTs to hold security mock drills in light of the rising Indo-Pak tensions after the Pahalgam terror attack.
Close to 300 'civil defence districts' with sensitive installations like nuclear plants, military bases, refineries, and hydroelectric dams will be covered by mock drills on air-raid warning sirens, civilian training for a "hostile attack" and cleaning of bunkers and trenches.
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers.
Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
"The domestic market has been consolidating in recent sessions following the strong recovery, driven by cautious sentiment amid India-Pakistan border tensions. Weak earnings growth for the current quarter has further impacted the market.
"Meanwhile, investors are closely monitoring India's bilateral trade negotiations with the US. Additionally, speculation around the US Federal Reserve is drawing attention, as no rate cuts are expected in the near term, affecting global trends," Vinod Nair, Head of Research, Geojit Investments Limited, said.
India's service sector activity accelerated slightly in April largely driven by a quicker increase in new order inflows, which also underpinned a faster expansion in employment, according to a monthly survey on Tuesday.
The seasonally adjusted HSBC India Services PMI Business Activity Index reached 58.7 in April, up from 58.5 in March, indicating a sharp and stronger expansion in service sector output.
"Market volatility was further aggravated by escalating geopolitical tensions between India and Pakistan, coupled with uncertainty surrounding the US Federal Reserve’s upcoming interest rate decision," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
Looking ahead, progress on the U.S. trade deal could provide near-term support to the markets, he said. However, ongoing geopolitical concerns and the earnings season are likely to keep investor sentiment cautious in the near term, Khemka added.
The BSE smallcap gauge dropped 2.33 per cent and midcap index declined 2.16 per cent.
Among sectoral indices, realty tanked 3.49 per cent, power (2.64 per cent), services (2.53 per cent), utilities (2.36 per cent), industrials (2 per cent), capital goods (1.71 per cent) and consumer durables (1.59 per cent).
Auto and teck were the only gainers.
In Asian markets, Shanghai' SSE Composite index and Hong Kong's Hang Seng settled higher. South Korean and Japanese markets were closed due to holidays.
Markets in Europe were trading lower. US markets ended in the negative territory on Monday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 497.79 crore on Monday, according to exchange data.
Global oil benchmark Brent crude jumped 2.76 per cent to USD 61.85 a barrel.
The 30-share BSE benchmark climbed 294.85 points or 0.37 per cent to settle at 80,796.84 on Monday. The Nifty rose by 114.45 points or 0.47 per cent to 24,461.15.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
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.
