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Sensex ends flat, Nifty gains marginally as oil surge, US-Iran tensions weigh

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Indian equity markets ended on a mixed note on Friday, with the benchmark indices largely flat as global equities retreated following a rebound in bond yields, while rising crude oil prices amid simmering tensions between the US and Iran kept investors cautious.

The Sensex gained just 3.11 points to settle at 77,540.83, while the Nifty edged up 20.15 points, or 0.08 per cent, to close at 24,252.00.

Commenting on Nifty technical outlook, experts said that the 24,000–24,200 zone remains the key support base, reinforced by heavy Put open interest at the 24,000 strike.

“On the upside, this week’s high of 24,360 falls within the broader 24,300–24,400 resistance zone, making this the immediate hurdle for the index,” an analyst stated.

“A sustained move above 24,360–24,400 could trigger a quick advance towards 24,500–24,600,” a market expert mentioned.

Despite the marginal gains in the day’s session, both the Sensex and Nifty declined for the second consecutive week, reflecting continued concerns over global market conditions and geopolitical risks.

Among the major Nifty losers, Trent, Maruti Suzuki India and InterGlobe Aviation came under pressure and ended among the top-performing stocks on the downside.

The broader market, however, showed some resilience. The Nifty MidCap index rose 0.1 per cent, while the Nifty SmallCap index gained 0.69 per cent.

Sectorally, the Nifty FMCG, Nifty Auto and Nifty IT indices underperformed the broader market. In contrast, the Nifty Metal and Nifty Private Bank indices emerged as the key outperformers during the session.

Experts said that market sentiment remained cautious as investors continued to track movements in global bond yields, crude oil prices and developments surrounding tensions between the US and Iran.

“The elevated global bond yields continue to cause worry in the market. The recent US Treasury’s move to ease the bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears,” the analyst stated.

International News

Baloch group condemns Pakistani airstrikes in Balochistan, calls for international probe

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The Baloch National Movement (BNM) organised a protest demonstration and rally in the Netherlands condemning the recent airstrikes by the Pakistan air force in Balochistan’s Surab district that reportedly killed more than 30 civilians, including women and children.
Addressing the rally, the BNM activists described the Surab attack as a severe “humanitarian tragedy” and criticised the international community’s silence over what they described as the growing threats to civilian lives across Balochistan. They stressed that human rights conditions in the province have been deteriorating rapidly.

Expressing deep concern over civilian casualties, including women and children, the demonstrators urged international bodies to take immediate notice of the bombardment in Surab and bring those responsible to justice.

The incident took place in the early hours of August 12 when the Pakistani air force reportedly carried out indiscriminate bombardment in residential areas in the Gidar area of Surab, killing civilians and causing significant damage to properties.

“Participants appealed to the United Nations, the European Union, and global human rights organizations to conduct an independent and transparent investigation into the Surab incident to establish the facts. They also called on Dutch civil society, political leaders, and European nations to pay attention to ongoing rights violations in Balochistan and advocate for the affected families,” the BNM stated.

The BNM activists reaffirmed their resolve to continue raising awareness across the Netherlands and other European nations, while calling for civilian protection and the restoration of human rights in Balochistan.

Earlier this week, the President of the Baloch American Congress, Tara Chand, wrote to US President Donald Trump seeking urgent intervention over Pakistani military airstrikes in Surab.

In his letter addressed to Trump, Chand wrote, “We respectfully urge your administration to investigate these serious allegations and determine whether any US-origin aircraft, weapons, drones, technology, components, or other military equipment were used in the reported operation.”

On behalf of the Baloch community, he also urged the American administration to investigate the reported airstrikes and civilian casualties in Surab, determine whether US-origin military equipment or technology was involved, and conduct appropriate end-use and compliance reviews of relevant US defence equipment supplied to Pakistan.

Chand further called on the American authorities to support an independent investigation and accountability for any violations of US law, arms-transfer conditions, or international humanitarian law as well as review relevant US military assistance or transfers if credible evidence establishes that such equipment was misused against Baloch civilians.

“Mr. President, a Baloch child’s life is as precious as the life of any child anywhere in the world. We are not asking the United States to prejudge the evidence—we are asking your Administration to establish the truth, protect civilians, and ensure accountability. We would welcome the opportunity to provide available documentation and meet with appropriate US officials regarding this urgent matter,” the letter mentioned.

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Hasina calls 2004 Dhaka grenade attack one of Bangladesh’s ‘most brutal, shameful’ chapters

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Marking the 22nd anniversary of the 2004 deadly grenade attack on an Awami League rally at Bangabandhu Avenue in Dhaka, former Bangladesh Prime Minister Sheikh Hasina described the tragedy as one of the most “brutal and shameful” chapters in the country’s history.
The Awami League mentioned that during the attack, twenty-four leaders and activists of the party and its associate bodies were killed, while over 300 others suffered splinter injuries.

Among those killed were Ivy Rahman, then Mohila Awami League chief and also the wife of former Bangladesh President Zillur Rahman.

According to the party, many of those injured became crippled for life, while Hasina, then opposition leader, narrowly escaped the attack with ear injuries, from which she continues to suffer.

The Awami League alleged that the “barbaric attack” on August 21, 2004, was carried out by terrorist group Harkat Ul Jihad (HuJI) at the behest of the then Bangladesh Nationalist Party-Jamaat-e-Islami coalition government.

In a statement shared by the Awami League on its social media platform X, Hasina recalled the attack, saying it was aimed at destroying democratic politics in Bangladesh.

“The attack sought to destroy our democratic politics and once again bring the politics of confrontation into the mainstream – a trajectory that had begun with the assassination of Bangabandhu Sheikh Mujibur Rahman and his family on August 15. We are subjected to propaganda claiming that we were responsible for destroying democracy in Bangladesh,” Hasina stated.

Urging the younger generation to examine Bangladesh’s history objectively, she said, “I want to tell the new generation: study history objectively. Look at who carried out the August 15 assassination. Who killed the four national leaders inside a secured prison? Who seized state power illegally by establishing military rule? Who enacted the Indemnity Ordinance? Who formed the so-called “King’s Party”? Who sought to eliminate political opponents through grenade attacks in an attempt to consolidate their grip on power?

The former Prime Minister further alleged that the forces favouring an anti-independence political agenda had regained ground in Bangladesh following August 5, 2024

“Those who have repeatedly sought to steer Bangladesh along an anti-independence political trajectory re-emerged on the political stage after August 5, 2024. Deceiving the people and conspiring to assassinate me and destroy the Awami League were the principal objectives of August 5. Further evidence of this is the killing of numerous leaders and activists of our party across the country since August 5, along with physical attacks and baseless cases brought against them,” Hasina mentioned.

She reaffirmed that the Awami League would remain steadfast in their determination to overcome all obstacles and build the “Sonar Bangla” envisioned by Bangabandhu Sheikh Mujibur Rahman — “a secular, modern, and welfare-oriented Bangladesh.”

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Palestinians appreciate India’s longstanding support, highlight importance of development partnership

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Ministry of External Affairs (MEA) Secretary Sripriya Ranganathan, currently on an official visit to Palestine, inaugurated a government of India-supported Quick Impact Project at the Jericho Women’s Charitable Society School, in Ramallah on Thursday.

“Amb. Sripriya Ranganathan, together with H.E. Dr. Hussein Hamayel, Governor of Jericho and the Jordan Valley, inaugurated a Government of India-supported Quick Impact Project at the Jericho Women’s Charitable Society School,” the Representative Office of India to the State of Palestine in Ramallah stated on X.

“The project upgraded educational facilities and provided computers and essential equipment, creating a better learning environment. It marks the successful completion of India’s 8th QIP in Palestine — translating partnership into tangible benefits for local communities,” it added.

Earlier in the day, Secretary Ranganathan visited the Palestine-India Techno Park and welcomed its role as a hub for innovation, entrepreneurship and technological advancement in Palestine.

Honouring the enduring legacy of peace, non-violence and justice of Mahatma Gandhi, Secretary Ranganathan paid a floral tribute at the bust of Mahatma Gandhi in Ramallah, along with the Mayor of Ramallah, Jack Saadeh.

Secretary also reviewed India’s recently completed and ongoing flagship development projects in Palestine.

A statement by the Representative Office of India said that the visit provided further momentum to the longstanding India-Palestine partnership with a focus on health cooperation, development partnership, skills and capacity building and community engagement.

The statement noted that the major outcome of the visit was Wednesday’s ground-breaking of the Indian Super Speciality Hospital in Arrabeh, Jenin, a major government of India-funded development project being taken forward pursuant to the commitment made by Prime Minister Narendra Modi.

Earlier, Secretary Ranganathan called on Majed Abu Ramadan, Health Minister of Palestine, where they discussed further deepening cooperation in the health sector, including training cooperation.

Secretary Ranganathan informed of India’s decision to organise a prosthetic limb camp in Palestine and donation of Bharat Health Initiative for Sahyog Hita and Maitri (BHISHM) Cube, a mobile health centre, for use in Gaza. She also handed over the first tranche of life-saving medicines.

According to the statement, the visit also highlighted the breadth of India’s development partnership with Palestine across education, institution building, vocational training and women’s empowerment.

“In the education sector, cooperation was advanced through the “School-in-a-Box” initiative, undertaken with the Ministry of Education and Higher Education, which includes provision of digital educational resources to support modern learning environment in Palestinian schools, especially in Gaza,” the statement said.

The Secretary also visited ongoing Government of India-funded projects in Palestine, including the India-Palestine Centre for Empowering Women ‘Turathi’ and the Palestinian Institute of Diplomacy, reflecting India’s continued support for women’s economic empowerment, institutional capacity building and human resource development.

Palestinian leaders and officials welcomed the initiatives advanced during the visit and expressed appreciation for India’s longstanding support to the Palestinian people.

They highlighted the importance of India’s development partnership in strengthening essential public services, building institutional capacity and responding to Palestinian development priorities.

“India remains firmly committed to supporting the Palestinian people through initiatives that respond to Palestinian priorities, strengthen institutions and public services, and contribute meaningfully to people’s lives,” highlighted the statement from the Representative Office of India.

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