Stock markets rise for 7th day; Sensex reclaims 80k-level on rally in IT shares, FII inflows
Mumbai, Apr 23 (PTI): Stock markets extended the winning run to seventh day on Wednesday with benchmark BSE Sensex jumping 520 points to close above 80,000 level for the first time in four months driven by strong gains in IT and auto shares.
The 30-share Sensex rose by 520.90 points or 0.65 per cent to settle at 80,116.49, the highest closing level since December 18. During the day, it surged 658.96 points or 0.82 per cent to 80,254.55.
The NSE Nifty rallied 161.70 points or 0.67 per cent to 24,328.95.
Foreign fund inflows and positive global trends also boosted the market sentiment, analysts said.
Among the Sensex firms, HCL Tech surged the most by 7.72 per cent after the firm posted an 8.1 per cent increase in consolidated net profit at Rs 4,307 crore for March quarter 2024-25, mainly on account of large deals with a total contract value of about Rs 25,500 crore.
Tech Mahindra, Tata Motors, Infosys, Mahindra & Mahindra, Tata Consultancy Services, Tata Steel, Bharti Airtel and Maruti were also among major gainers.
Banking shares witnessed a sell-off after recent sharp gains with leading private lender HDFC Bank dropping by 1.98 per cent to emerge as the biggest loser among Sensex shares.
Kotak Mahindra Bank, State Bank of India, Axis Bank, ITC and UltraTech Cement were also among the laggards.
In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225 and Hong Kong's Hang Seng settled in the positive territory. Shanghai SSE Composite ended marginally lower.
Markets in Europe were trading significantly higher.
US markets bounced back sharply on Tuesday. Nasdaq Composite surged 2.71 per cent, Dow Jones Industrial Average jumped 2.66 per cent and S&P 500 rallied 2.51 per cent.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,290.43 crore on Tuesday, according to exchange data.
"The Indian equity market sustained its positive momentum, driven by better outcome from the latest set of IT results and optimistic forward-looking comments. However, profit-booking was visible in financials after the recent sharp rally.
"While US-China trade tensions appear to be easing, a rally in US tech stocks has further bolstered overall global market sentiment," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE midcap gauge climbed 0.94 per cent and smallcap index went up by 0.26 per cent.
Among BSE sectoral indices, BSE Focused IT surged 4.25 per cent, IT jumped 4 per cent, teck (3.10 per cent), auto (2.34 per cent), realty (1.37 per cent), consumer discretionary (1.02 per cent), healthcare (0.96 per cent) and industrials (0.84 per cent).
Financial Services, bankex and consumer durables were the laggards.
As many as 2,078 stocks advanced while 1,873 declined and 155 remained unchanged on the BSE.
Global oil benchmark Brent crude climbed 1.35 per cent to USD 68.35 a barrel.
The BSE benchmark climbed 187.09 points or 0.24 per cent to settle at 79,595.59 on Tuesday. The Nifty went up by 41.70 points or 0.17 per cent to 24,167.25.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
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.
