Indian shares, bonds and the rupee fell sharply after the Indian Army on Thursday said that it carried out surgical strike on terror launch across the line of control in Jammu and Kashmir, where it inflicted massive damages on terrorists and their supporters.
In a sharp plunge, the sensex tumbled as much as 572.89 points to 27,719.92 while the National Stock Exchage index Nifty dropped by 186.90 points, or 2.13 percent, to 8,558.25, making it the biggest one-day loss since Brexit vote in June.
Sensex suffers biggest one-day loss since Brexit vote in June, falls 465 points; Nifty ends below 8,600
— NDTV Profit (@NDTVProfit) September 29, 2016
The rupee also fell by 36 paise to 66.82 against the US dollar soon after the announcement.
The announcement about the operation was made by Lt Gen Ranbir Singh, the director general of military operations (DGMO), at a press conference in New Delhi, where he talked about the army’s surgical strikes across the LoC to prevent Pak-based terrorists positioned at launchpads from infiltrating into Indian territory.
It triggered all-round selling in the stock market.
Most of the 30-Sensex constituents led by Adani Ports, ICICI Bank, Axis Bank, Lupin, Tata Motors, Sun Pharma, Tata Steel, GAIL, SBI, NTPC, Dr Reddy’s, Larsen and Toubro and Asian Paints were trading in the negative terrain, falling by up to 4.75 per cent.
(With inputs from PTI)
(Feature image source: PTI)
