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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Mamata urges electors to cast vote to take revenge for deletion of people's names from rolls
Samserganj (WB) (PTI): West Bengal Chief Minister Mamata Banerjee on Sunday urged people to cast their votes to take revenge for the deletion of people's names from the electoral rolls.
The Trinamool Congress chief urged people whose names have been deleted from the voter list during the Special Intensive Revision (SIR) of electoral rolls to move appeals before the tribunal.
Addressing an election rally at Samserganj, which was the epicentre of violence during the protests against the Waqf (Amendment) Act in Muslim-majority Murshidabad district in April 2025, she said, "Cast your votes to take revenge for deletion of people's names, and against the SIR so that the results reflect that."
Banerjee asked the TMC workers to remain vigilant till the counting date on May 4. Assembly polls in West Bengal will be held in two phases on April 23 and 29.
In an apparent reference to Union Home Minister Amit Shah, Banerjee alleged that he was behind the deletion of voters' names in West Bengal during the SIR exercise.
"If you have the guts, fight directly," she said.
Asking all the TMC workers to remain vigilant during the election period, Banerjee said, "I hope none of our booth agents will sell themselves off to the BJP, in the interest of West Bengal."
Claiming that EVM machines will be made to malfunction at some places, the TMC chief instructed party workers not to allow EC officials to repair the machines and instead demand replacements.
Speaking at the rally in support of Mohammed Nur Alam in Samserganj and Mohammed Amirul Islam in Farakka, Banerjee accused the BJP of spreading canards against her that she did not do much for the interest of the Muslims, maintaining that she has fought hard against the implementation of the Waqf (Amendment) Act.
Murshidabad witnessed violence during the implementation of the Waqf (Amendment) Act, leading to the death of some persons including a father-son duo who were hacked to death by a mob, with the BJP accusing the TMC of engineering violent agitations in various parts of the district.
Claiming that development work has stalled owing to the assembly polls, she said, "They (EC) have transferred nearly 500 officers, but this is only for a month; work will begin again after that."
The chief minister accused the EC of "deleting names of some, while intimidating some others", in the name of SIR of electoral rolls.
Banerjee asked why the assembly polls could not be conducted with the same electoral rolls used in the 2024 general elections.
"If the voter list contained names of infiltrators, the Prime Minister and the Home Minister also won with their votes earlier, so they should have resigned first," she said.
Claiming that she and her party will never allow the establishment of detention camps in the name of NRC, Banerjee said, "That is why you are being vengeful against me."
She sought to remind that the Election Commission's authority over the state's administration is till completion of the election process.
The chief minister asked why several senior officers of her government, who were earlier replaced from their positions by the EC, were being sent to the assembly poll-bound Tamil Nadu.
Banerjee alleged that officers who are relatives of BJP leaders have been deputed in West Bengal.
She claimed that during the TMC rule, youths from among the minority community and the Scheduled Castes and Scheduled Tribes got better education opportunities and made it to the IAS, IPS and WBPS cadre and also became doctors and engineers.
"The society is advancing, but the jealous BJP people cannot stand this," the TMC chief said.
Banerjee assured people that women will receive lifelong financial benefits under Lakshmir Bhandar scheme if the TMC returns to power for a fourth consecutive term.
"We will find livelihood opportunities for those registered under Banglar Yuba Sathi," she said about the newly launched scheme to provide monthly assistance of Rs 1,500 each to the jobless youths in the state.
