Stock markets muscle through intense volatility amid buying rush in heavyweights
Mumbai, Jul 4 (PTI): Benchmark indices Sensex and Nifty ended higher on Friday in a highly volatile trade amid a buying rush in banking and other bellwether stocks on the back of a rally in the US markets.
After oscillating between highs and lows in intra-day trade, the 30-share BSE Sensex ended 193.42 points or 0.23 per cent higher at 83,432.89. During the day, it hit a high of 83,477.86 and a low of 83,015.83, gyrating 462.03 points.
The 50-share NSE Nifty inched up by 55.70 points or 0.22 per cent to 25,461.
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers.
However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
"The tone was negative in the first half; however, a decent recovery in heavyweight stocks pared all the losses as the day progressed, helping the index close near the day's high at the 25,461 level.
"With all eyes on the impending US-India trade deal as the tariff deadline approaches, participants are hopeful for a favourable outcome, which could provide the much-needed trigger for the next leg of the market up move," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
The BSE midcap gauge went up by 0.23 per cent and smallcap index climbed marginally by 0.17 per cent.
Among BSE sectoral indices, oil & gas jumped 1.26 per cent, energy (0.90 per cent), realty (0.87 per cent), IT (0.67 per cent), healthcare (0.64 per cent), BSE Focused IT (0.65 per cent) and teck (0.52 per cent).
Metal, telecommunication, auto, consumer discretionary and commodities were the laggards.
As many as 2,261 stocks advanced while 1,788 declined and 140 remained unchanged on the BSE.
"The Indian market is experiencing a pause as investors adopt a wait-and-watch strategy ahead of the impending US tariff deadline with mixed global cues. Ongoing FII outflows reflect a risk-off approach, while DII inflows are offering partial support.
"Following the recent rally, main indices are hovering near peak valuation levels, limiting further upside, which is highly dependent on Q1 earnings and details of the trade deal," Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled higher while South Korea's Kospi and Hong Kong's Hang Seng ended lower.
European markets were trading in the negative territory.
The US markets ended in the positive territory on Thursday.
Global oil benchmark Brent crude dropped 1.03 per cent to USD 68.03 a barrel.
Meanwhile, markets regulator Sebi has barred US-based Jane Street Group from the securities markets and directed the group to disgorge unlawful gains of Rs 4,843 crore for allegedly manipulating stock indices through positions taken in derivatives segment.
This could be the highest disgorgement amount ever directed by the Securities and Exchange Board of India (Sebi).
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,481.19 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,333.06 crore.
On Thursday, the Sensex dropped by 170.22 points or 0.20 per cent to settle at 83,239.47. The Nifty declined by 48.10 points or 0.19 per cent to 25,405.30.
"Indian equity markets opened on a flat note Friday as investors remained cautious ahead of a potential India–US trade agreement and digested regulatory action against a major global trading entity. Both indices dipped during mid-session but recovered to end on a positive note...," Gaurav Garg, Analyst, Lemonn Markets Desk, said.
On the weekly front, the BSE benchmark gauge dropped 626.01 points or 0.74 per cent, and the Nifty declined 176.8 points or 0.68 per cent.
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Here's how netizens, media outlets projected Ashwini Kumar's bomb threat as 'Lashkar-e-Jihadi'
Mumbai: Mumbai was thrown into panic late on Thursday night when police received a WhatsApp message warning of a large-scale terror attack during the Ganesh festival. The message, written in the name of a jihadi group called “Lashkar-e-Jihadi,” claimed that 14 Pakistani terrorists had entered Mumbai with 400 kilograms of RDX loaded in 34 vehicles.
It warned of blasts that could kill as many as one crore people. Authorities immediately declared a high alert, and the case was handed over to the Crime Branch while the Anti-Terrorism Squad and other security agencies were put on standby.
Within hours, the threat made national headlines. Television channels and online portals reported the possibility of a terror strike, repeatedly linking the message to Pakistan-based groups.
The incident was projected as yet another attempt to destabilize Mumbai, and the supposed involvement of a jihadi outfit quickly gained traction across the media. However, a swift investigation by Mumbai Police traced the origin of the message to a very different source.
By Saturday, police had tracked down and arrested Ashwin Kumar Supra, a 50-year-old astrologer and Vastu consultant living in Sector 79 of Noida. Originally from Patna, Kumar admitted during interrogation that he had sent the message using the name of his former friend Firoz. In 2023, Firoz had lodged a fraud case against him at Phulwari Sharif police station in Patna, leading to Kumar’s three-month imprisonment. Seeking revenge, Kumar attempted to frame Firoz by posing as a jihadi terrorist. Police recovered his mobile phone, SIM cards, and other digital devices used in the hoax.
When the threat first came to light, social media was flooded with heated reactions. Journalist @Manju_IBNews wrote, “Another election around the corner!” while user @kv_mcu posted an aggressive comment demanding to “ban Islam and burn the Quran,” calling for mass deportations and tying the incident to culture and religion. In response, @RIMMS51979 countered sharply, saying, “Caller Name is Ashvini kumar what will you burn now.” Another user, @Valkyrie00777, questioned the credibility of the threat, pointing to contradictions in the claim that 14 terrorists had entered India with 34 bombs and 400 kilograms of RDX. Meanwhile, @Liberal51601607 remarked, “Terrorists have no religion.. Anyone..?”
Fact-checkers also weighed in. @zoo_bear (Mohammed Zubair) accused NDTV of omitting crucial context, posting: “Adani's TV hasn't mentioned that the accused Ashwini Kumar sent the bomb threat message to Mumbai police in the name of his friend Firoz to frame him.” The fact-check website Aazad Fact Check (@AazadFactCheck) published a detailed rebuttal, saying the story had quickly evolved into a propaganda tool. It noted that the supposed intelligence about “human bombs in vehicles” was technically flawed and described the entire sequence as “a pure example of Indian narrative building before a false flag operation.”
Adani's TV hasn't mentioned that the accused Ashwini Kumar sent the bomb threat message to Mumbai police in the name of his friend Firoz to frame him. https://t.co/17nZxYOrql
— Mohammed Zubair (@zoo_bear) September 6, 2025
After Ashwini Kumar’s arrest, the tone of the online conversation shifted sharply. Activist @ShabnamHashmi posted, “Ashwini Kumar 50 Year Old Astrologer from Noida has been arrested for sending these threats in the name of a Muslim. This is how Sangh sleeper cells are spreading hatred. Stop the Hate factory! Vote Out the Vote Chori Gang.” Journalist @indscribe (Shams Ur Rehman Alavi) observed that newspapers splashed the initial threat on front pages but buried the arrest details inside. “When the guy gets caught, the same newspapers don't publish his photo, relegate it to page 14 or reduce it to a single column… Interest gone after ‘name’ found,” he wrote.
Ashwini Kumar 50 Year Old Astrologer from Noida has been arrested for sending these threats in the name of a Muslim. This is how Sangh sleeper cells are spreading hatred
— Shabnam Hashmi (@ShabnamHashmi) September 6, 2025
Stop the Hate factory !
Vote Out the Vote Chori Gang pic.twitter.com/IzpLjWVJgu
Other users highlighted systemic and political angles. @shfique13 argued that there are now “two laws” in the country—one protecting those aligned with the government and another used to suppress truth-tellers. @SoodRajive claimed the episode was staged, alleging Kumar had been paid to frame a minority and calling it “a staged toolkit drama.” User @hussain2577 wrote sarcastically, “Such an innocent n bright person. Plzz grant him bail, Garland him, Give him BJP membership form.” Another account, @Sangliyana, remarked, “Risking his life just to frame a Muslim boy. This is what 11 years corrupting mind.” Finally, @rsbisht__ argued that Kumar’s only aim was to trap Firoz, linking it to what he described as rising hatred against Muslims in Uttar Pradesh under the Modi and Yogi administrations.
