Stock markets in choppy waters; Sensex drops 368 points dragged by bank shares
Mumbai, Aug 12 (PTI): Benchmark indices Sensex and Nifty ended lower in a highly volatile trade on Tuesday dragged down by blue-chip bank stocks and caution ahead of domestic and US inflation data.
The 30-share BSE Sensex dropped 368.49 points or 0.46 per cent to settle at 80,235.59. During the day, it hit a high of 80,997.67 and a low of 80,164.36, gyrating 833.31 points.
The 50-share NSE Nifty went lower by 97.65 points or 0.40 per cent to 24,487.40.
Investors are also awaiting cues from the US-Russia talks on August 15.
From the Sensex firms, Bajaj Finance, Trent, Hindustan Unilever, HDFC Bank, Eternal, Bajaj Finserv, ICICI Bank, and Bharat Electronics were among the laggards.
However, Maruti, Tech Mahindra, Mahindra & Mahindra and NTPC were among the major gainers.
"The national market reacted with volatility to the ongoing developments in global trade tariffs, reflecting caution following the extension of the US-China tariff truce and ahead of key inflation data due later today. The US inflation figures with any signs of tariff-related impact could influence the Fed's policy stance," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
The BSE midcap gauge dipped 0.25 per cent and smallcap index edged marginally up by 0.04 per cent.
Among BSE sectoral indices, bankex dropped 0.83 per cent, capital goods (0.76 per cent), realty (0.75 per cent), telecommunication (0.46 per cent) and FMCG (0.44 per cent).
Oil & gas, healthcare, metal, utilities, IT and BSE Focused IT were the gainers.
In Asian markets, South Korea's Kospi settled lower while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory.
European markets were trading on a mixed note.
The US markets ended lower on Monday.
Global oil benchmark Brent crude climbed 0.18 per cent to USD 66.75 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,202.65 crore on Monday, according to exchange data.
On Monday, the Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08. The Nifty climbed 221.75 points or 0.91 per cent to 24,585.05.
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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.
