Stock markets edge up amid weak global market trends, tariff-related uncertainty
Mumbai, Jul 16 (PTI): Benchmark stock indices Sensex and Nifty closed marginally higher in a rangebound trade on Wednesday as investors stayed on the sidelines amid weak global market trends and tariff-related uncertainty.
Rising for the second day in a row, the 30-share BSE Sensex edged up 63.57 points or 0.08 per cent to settle at 82,634.48. During the day, it hit a high of 82,784.75 and a low of 82,342.94.
The 50-share NSE Nifty ended 16.25 points or 0.06 per cent higher at 25,212.05.
Among Sensex firms, Mahindra & Mahindra, Tech Mahindra, State Bank of India, Infosys, Adani Ports and ITC were the major gainers.
However, Eternal, Sun Pharma, Tata Steel, Tata Motors, Bajaj Finance and Bharat Electronics were among the major laggards.
"Indian equity markets closed modestly higher on Wednesday, recovering from early losses amid foreign fund inflows, easing market volatility, and renewed buying interest in IT stocks," Gaurav Garg, Analyst, Lemonn Markets Desk, said.
Tech Mahindra rose by 1.94 per cent ahead of its financial results that were announced after market hours. The company posted a 30 per cent jump in consolidated profit after tax to Rs 1,128.8 crore in the June quarter of FY26 over the year-ago period.
Infosys rebounded by 1.5 per cent, helping the key indices close in green.
"India’s macroeconomic outlook remains strong, supported by easing inflation, lower interest rates, a healthy monsoon, and softer oil prices. A drop in inflation in eight straight months has provided a push to the market. However, investors are showing a mix of optimism and caution in the relief rally to assess the Q1 FY26 corporate earnings, as an upgrade in earnings is essential in the premium valued stock market.
"Additionally, global sentiment is mixed amid tariff concerns—highlighted by the announcement of a 50% duty on copper—and fading hopes of a near-term US Fed rate cut on account of sticky inflation, adding market uncertainty," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) bought equities worth Rs 120.47 crore on Tuesday, according to exchange data.
"The benchmark equity indices exhibited range-bound price action and ended marginally in the green, marking the second consecutive session of gains. Market participants remained cautious amid prevailing uncertainty around global tariff developments," according to Bajaj Broking Research.
The BSE smallcap gauge climbed 0.28 per cent and midcap index went up by 0.10 per cent.
Among BSE sectoral indices, BSE Focused IT climbed 0.67 per cent, followed by IT (0.66 per cent), services (0.55 per cent), realty (0.50 per cent) and teck (0.49 per cent).
Commodities, capital goods, metal and industrials were the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower.
European markets were trading on a mixed note. The US markets ended mostly lower on Tuesday.
Global oil benchmark Brent crude dipped 0.26 per cent to USD 68.55 a barrel.
On Tuesday, the Sensex climbed 317.45 points or 0.39 per cent to settle at 82,570.91. The Nifty edged higher by 113.50 points or 0.45 per cent to 25,195.80.
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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.
