Sensex falls by 160 pts on sell-off in IT, healthcare shares as RBI keeps rate unchanged
Mumbai, Aug 6 (PTI): Falling for the second day, benchmark BSE Sensex declined by 160 points on Wednesday due to selling in IT and healthcare shares amid the RBI policy decision to keep the key interest rates unchanged.
The 30-share BSE Sensex fell 166.26 points or 0.21 per cent to settle at 80,543.99 with 18 of its constituents ending lower and 12 with gains. During the day, it declined 261.43 points or 0.32 per cent to hit a low of 80,448.82.
The 50-share NSE Nifty dipped 75.35 points or 0.31 per cent to close at 24,574.20. In the intraday session, the index decreased 110.35 points or 0.44 per cent to hit a low of 24,539.20.
Among the Sensex firms, Sun Pharmaceuticals, Tech Mahindra, HCL Technologies, Infosys, Bajaj Finance, Eternal, Tata Consultancy Services, UltraTech Cement, Bajaj Finserv, Tata Steel, ITC and L&T were the major laggards.
Asian Paints, Mahindra & Mahindra, BEL, Adani Ports, State Bank of India, Trent, HDFC Bank were among the gainers.
"Despite renewed trade tensions—stemming from the U.S.—the domestic market remained resilient, holding firm near the key support level of 24,500. The pharma sector underperformed, emerging as a notable casualty of the tariff warnings," Vinod Nair, Head of Research, Geojit Investments, said.
The Reserve Bank of India (RBI) kept its policy interest rate unchanged on Wednesday, as policymakers weighed the risks posed by US President Donald Trump's trade policies and the uncertainties surrounding the potential for higher tariffs.
The RBI also retained the GDP growth projection for the current fiscal year at 6.5 per cent while lowering the inflation forecast to 3.1 per cent from 3.7 per cent.
The BSE smallcap gauge declined 1.14 per cent and the midcap index by 1 per cent.
Among sectoral indices, Focused IT fell by 1.78 per cent, followed by Heathcare (1.72 per cent), IT (1.64 per cent), Realty (1.55 per cent), Teck (1.20 per cent), Industrials and Capital Goods (0.83 per cent each), FMCG (0.80 per cent), Telecommunication (0.75 per cent) were among the laggards.
Bankex is the only gainer.
The market capitalisation of BSE-listed firms eroded by Rs 3,50,296.28 crore to Rs 4,45,19,999.04 (USD 5.08 trillion) in two days of fall in the equity market.
"Participants were awaiting the outcome of the MPC meeting, which was in line with expectations, as the policy rate remained unchanged and the neutral stance continued. As a result, there was no significant market reaction," Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
In Asian markets, Japan's Nikkei 225, Shanghai's SSE Composite index, and Hong Kong's Hang Seng closed in the positive territory, while South Korea's Kospi settled on a flat note.
The European markets are trading in the green territory. The US markets ended lower on Tuesday.
Global oil benchmark Brent crude rose 1.61 per cent to USD 68.73 a barrel.
Foreign Institutional Investors offloaded equities worth Rs 22.48 crore while Domestic Institutional Investors purchased equities worth Rs 3,840.39 crore on Tuesday, according to exchange data. Sensex fell by 308.47 points to close at 80,710.25 and Nifty dipped 73.20 points to 24,649.55 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.
