{"id":5230,"date":"2016-09-30T09:30:19","date_gmt":"2016-09-30T04:00:19","guid":{"rendered":"http:\/\/www.kashmir.today\/?p=5230"},"modified":"2016-09-30T09:30:19","modified_gmt":"2016-09-30T04:00:19","slug":"indias-surgical-strikes-hit-stock-markets","status":"publish","type":"post","link":"https:\/\/kashmir.watch\/?p=5230","title":{"rendered":"India’s surgical strikes hit stock markets"},"content":{"rendered":"

A roller-coaster ride thereafter also saw some indices recovering, albeit marginally, but only to fall again and close significantly lower. The market movement was similar in Pakistan.<\/strong><\/em><\/p>\n

After a positive opening on the back of a rise in global crude oil prices, key Indian equity indices took a sharp fall around 12:30 p.m. on Thursday, after the army said it had conducted surgical strikes across the Line of Control in Jammu and Kashmir.
\nA roller-coaster ride thereafter also saw some indices recovering, albeit marginally, but only to fall again and close significantly lower. The market movement was similar in Pakistan.<\/p>\n

The barometer 30-scrip sensitive index (Sensex) of the BSE opened strong at 28,423.14 points on Thursday, against the
\nprevious close at 28,292.81 points. By the time the news briefing by the Indian Army had ended, the intra-day fall was as much as 750 points.
\nAfter a subsequent volatile session, where some investors were also resorting to value buying amid overall concern over escalation in tension between India and Pakistan, the key index ended with a loss of 465.28 points, or a 1.64 per cent drop, at 27,827.53 points.<\/p>\n

But for Tata Consultancy Services, all the 30 Sensex shares ended in the red.
\n“As markets got first whiff of developments across the border, panic liquidation gripped the stocks enmasse resulting in a sell off across board. However F&O expiry dynamics ensured that liquidation spree did not evolve into a free fall,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
\nAt the Karachi Stock Exchange, the movement for KSE-30 was similar. The index, at one point of time, was down over 415 points. But half hour before the closing bell, it was ruling with a loss of 20.31 points, or 0.09 per cent.
\nIndia’s National Stock Exchange (NSE) closed lower by 153.90 points, or 1.76 per cent, to 8,591.25 points.
\nThe market mood took a beating as soon as the briefing by the Indian Army started.
\nMarkets will bounce back: Finance Ministry
\nIndian financial markets will bounce back, and surgical strikes by the army may even have a positive impact on the economy, India’s Finance Ministry said on Thursday.
\n“Terrorism is the biggest threat to our financial and economic stability, and growth. So, decisive action against terrorism will spur growth,” said Economic Affairs Secretary Shaktikanta Das soon after Finance Minister Arun Jaitley said India can repel any force that subverts peace.
\nLauding the strikes by the army, Jaitley tweeted, “We are proud of Indian Army for taking pre-emptive action and repelling terrorists’ attempt to destabilise peace and tranquillity in the region.”<\/p>\n","protected":false},"excerpt":{"rendered":"

A roller-coaster ride thereafter also saw some indices recovering, albeit marginally, but only to fall again and close significantly lower. The market movement was similar in Pakistan. After a positive opening on the back of a rise in global crude oil prices, key Indian equity indices took a sharp fall around 12:30 p.m. on Thursday, […]<\/p>\n","protected":false},"author":1,"featured_media":5231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/5230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5230"}],"version-history":[{"count":0,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/5230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}