Sensex rallies for 3rd day to regain 77,000-mark; Nifty climbs 108.65 points
Mumbai, Apr 16 (PTI): Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Wednesday following buying in banking stocks and fresh foreign fund inflows as retail inflation slipping to near six-year lows raised hopes of further rate cuts.
Defying a weak global market trend, the 30-share BSE Sensex climbed 309.40 points or 0.40 per cent to settle at a two-week high of 77,044.29 in a volatile session. After a weak start, the index moved between gains and losses during the session. It hit a high of 77,110.23 and a low of 76,543.77, gyrating 566.46 points.
The NSE Nifty rallied 108.65 points or 0.47 per cent to 23,437.20.
Positive macro data and forecast of normal monsoon boosted investor sentiment, analysts said.
IndusInd Bank rose the most by 7.12 per cent amonf Sensex shares. The bank stated that external agency PwC has assessed a negative impact of Rs 1,979 crore on the bank's networth due to accounting lapses in the derivatives portfolio.
Axis Bank jumped 4.26 per cent while Adani Ports rose by 1.81 per cent. Asian Paints, HDFC Bank, Bharti Airtel, State Bank of India and ITC were among the gainers.
Maruti was the biggest loser, falling by 1.51 per cent. Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
Foreign Institutional Investors (FIIs) turned buyers after days of selling as they bought equities worth Rs 6,065.78 crore on Tuesday, according to exchange data.
"Globally, markets are undergoing fresh consolidation as tariff tensions intensify... Amidst global weakness, the Indian market exhibited a mild positive sentiment in anticipation that the trade fight between the US & China will not harm but benefit India, and March's CPI inflation which is at a nearly 6-year low is indicative of further rate cuts in the near future," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Domestically, the Q4 FY25 earnings season has started on a weak note. Overall expectations remain subdued, suggesting potential profit booking at higher levels, Nair added.
The BSE smallcap gauge climbed 0.91 per cent and midcap index rallied 0.62 per cent.
Among BSE sectoral indices, oil & gas climbed the most by 1.78 per cent, followed by bankex (1.45 per cent), energy (1.25 per cent), telecommunication (1.08 per cent), financial services (1.07 per cent) and services (0.73 per cent).
IT, auto, capital goods and BSE Focused IT were the laggards.
As many as 2,636 stocks advanced while 1,309 declined and 133 remained unchanged on the BSE.
"Participants responded positively to favourable cues, including the update on a normal monsoon, further easing of retail inflation, and, importantly, the absence of any negative surprises from global markets. Notably, the sustained strength in banking and financial stocks, along with rotational buying in other sectoral heavyweights, played a significant role in driving the momentum," Ajit Mishra – SVP, Research, Religare Broking Ltd said.
In the borader market, shares of Gensol Engineering tumbled 5 per cent to hit the lower circuit limit after Sebi barred the firm and its promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from securities markets till further orders in a fund diversion and governance lapses case.
In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225 and Hong Kong's Hang Seng settled lower. Shanghai SSE Composite index ended higher. European markets were quoting lower. US markets ended in the negative territory on Tuesday.
Global oil benchmark Brent crude jumped 0.91 per cent to USD 65.22 a barrel.
Rallying for the second straight session on Tuesday, the Sensex jumped 1,577.63 points or 2.10 per cent to settle at 76,734.89. The Nifty surged 500 points or 2.19 per cent to 23,328.55.
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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.
