Market Mayhem: Indo-Pak Tensions Rock Investors
The escalation of conflict between India and Pakistan has led to a significant market downturn, with investors losing Rs 7 lakh crore over two days. The Sensex fell by 880.34 points amid fears of prolonged tensions, while stocks like ICICI Bank and Power Grid led the declines.
- Country:
- India
In a tumultuous turn of events, the escalation of the India-Pakistan conflict has left investors reeling, with a staggering loss of Rs 7 lakh crore in just two days. The Sensex plunged by 880.34 points, closing at 79,454.47, marking a 1.10% decline on Thursday amid rising geopolitical tensions.
Thursday night saw Indian defense forces successfully repel Pakistan's aggressive attempts to target military sites with drones and missiles, further exacerbating market unease. Consequently, major companies like ICICI Bank and Power Grid saw their stocks plummet.
Despite the turbulence, some stocks like Titan Company and Tata Motors managed to buck the trend, highlighting a complicated market sentiment. With 2,522 stocks declining on the BSE, analysts urge caution but hint at a short-lived confrontation owing to strategic advantages and economic disparities.
(With inputs from agencies.)
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