FinanceDraft

Nifty and Sensex Ends Low Due to Air Strike on Jaish Terror Camp by India

On Tuesday, the India stocks Sensex and Nifty ended lower due to the Indo-Pak tensions at the Line of Control (LoC). The Air India held an air strike on the terror camp of Pakistan on their territory and blew them up completely.

The BSE Sensex ended at 239.67 points which were lower at 35,973.71, and NSE Nifty closed at 10,835.30, lower by 44.80 points. The stocks that helped for the recovery of the markets were, Tata Motors, TCS, Axis Bank and Zee Ent, other foremost losers of the market were, Infosys, ITC, ICICI Bank, HDFC Bank, and SBI.

There was a slight improvement in the border markets, Nifty Midcap Index was up by 357 points, day’s low which was close to 23 points lower at 16,579. Nifty was down by 206 points to 27,085.

While during the trade, the BSE Sensex had reached an intraday high of 36,712.52 and reached low to 35,714.16. The Nifty reached the intra-day high at 10,888.75 and low at 10,729.3.

The Sensex collapsed during the opening hour to almost 500 points, and various sectors were trading in the red when the news broke that Indian Air Force has violated the LoC, as alleged by Pakistan on Tuesday. Later the news was confirmed by the Indian government.

The top losers from the sectors were realty and bank stocks on BSE, which were down by 1.63 percent and 0.75 percent respectively. There were some investors across oil and gas, auto and pharma space which were noticed.

The shares of Hindustan Aeronautics Limited (HAL) were up by almost 3 percent during the intraday trade on Tuesday, which is a state-owned aerospace company while most the stocks were trading weak because of the rising tension between India and Pakistan.

HPCL was down by 1 percent, and Britannia was up by 1 percent that is still to be added to Nifty.

On Tuesday, the global Asian stock market closed at a low level and all settled with a negative level mark, as the investors needed the clarity on the US and China trade war issue just a day after the tariff hike deadline on Chinese goods was extended by The US President.

Stocks of Reliance Communication after a favorable court order were moved up by almost 7 percent. Telecom department has been instructed by TDSAT to examine the RCom’s plea for Noc related to the sale of spectrum to Reliance Jio.

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