Sensex, Nifty end higher after volatile trade as India avenges Pahalgam attack
Mumbai, May 7 (PTI): Benchmark stock indices Sensex and Nifty closed higher in a volatile session on Wednesday as India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir.
After gyrating between gains and losses during the day, the 30-share BSE Sensex ended 105.71 points or 0.13 per cent higher at 80,746.78. The index opened sharply down by 692 points and fell further to hit a day's low of 79,937.48 in early trade.
However, buying in private banks and select auto shares such as Tata Motors helped the barometer recover most of the losses and hit a high of 80,844.63 later.
The 50-issue Nifty of NSE advanced by 34.80 points or 0.14 per cent to settle at 24,414.40. Nifty moved between a high of 24,449.60 and a low of 24,220 during the session.
Broader markets also recouped intraday losses and closed higher by more than a per cent. Sectoral indices closed mixed as auto, realty, and metal sectors advanced while pharma and FMCG ended in the red.
"Geopolitical tensions, following India’s military response to a terrorist attack, triggered a gap-down opening. However, a swift recovery helped the indices edge higher by the close," Ajit Mishra – SVP, Research, Religare Broking Ltd said.
In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes early Wednesday on nine terror targets in Pakistan and Pakistan-Occupied Kashmir including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
The military strikes were carried out under 'Operation Sindoor' two weeks after the massacre of 26 civilians in Jammu and Kashmir's Pahalgam.
"Even as the country is in the middle of a military action against terrorist network across the border, markets witnessed gyration during intra-day trade but eventually managed to shrug off the uncertainty to end slightly higher. While the mood will be of caution due to Indo-Pak war tension, markets could witness choppy sessions with stock-specific activity over next few days," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
From the 30-share Sensex firms, Tata Motors jumped the most by 5.05 per cent as India and the UK sealed a trade deal to reduce duties on most traded goods. The trade deal will make it easier for British firms to export whisky, cars, and other products to India.
Bajaj Finance, Eternal, Adani Ports, Tata Steel, HDFC Bank, Kotak Bank, ICICI Bank, Titan, Mahindra & Mahindra and Power Grid were among the gainers.
Asian Paints, Sun Pharma, ITC, Nestle, Reliance Industries and HCL Tech were among the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,794.52 crore on Tuesday, according to exchange data.
"Geopolitical tensions like the ongoing Indo-Pak standoff under 'Operation Sindoor' tend to cause immediate market volatility. While short-term caution is reasonable, history shows that Indian markets demonstrate strong resilience once clarity returns. Unless accompanied by broader economic or global shocks, Indo-Pak tensions have not had a lasting negative impact. Investors should focus on fundamentals, not fear," said Pankaj Singh, small case manager and Founder and Principle Researcher at SmartWealth.ai.
The BSE midcap gauge jumped 1.36 per cent and smallcap index climbed 1.16 per cent.
Among sectoral indices, auto rallied the most 1.74 per cent, followed by consumer discretionary (1.21 per cent), metal (1.19 per cent), realty (1.12 per cent), consumer durables (1.05 per cent), power (0.95 per cent) and financial services (0.94 per cent).
BSE FMCG and healthcare indices were the only laggards.
As many as 2,203 stocks advanced while 1,685 declined 158 remained unchanged on the BSE.
"Indian equity markets exhibited strong resilience amid recent Indo-Pak border tensions, the measured market response indicated that geopolitical risks were largely priced in and expectations of de-escalation is prevailing among investors. At the same time, the progress on the India–UK FTA further buoyed investor optimism, driving gains in key sectors such as textiles, automobiles, and information technology," Vinod Nair, Head of Research, Geojit Investments Limited said.
Globally, investor sentiment has improved as the United States and China signal a willingness to resume trade negotiations, Nair added.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory, while Japan's Nikkei 225 ended lower.
Markets in Europe were quoting in the negative territory. US markets ended lower on Tuesday.
India and the UK on Tuesday sealed a landmark free trade agreement that will lower tariffs on 99 per cent Indian exports and will make it easier for British firms to export whisky, cars, and other products to India besides boosting the overall trade basket.
Global oil benchmark Brent crude climbed 0.64 per cent to USD 62.55 a barrel.
Snapping its two days of gains, the BSE benchmark declined 155.77 points or 0.19 per cent to settle at 80,641.07 on Tuesday. The Nifty dipped 81.55 points or 0.33 per cent to 24,379.60.
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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.
