Published On : Thu, Sep 29th, 2016

Surgical strike effect: Sensex crashes over 550 points

sensex down

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Mumbai/Nagpur: The BSE benchmark Sensex crashed over 550 points in afternoon trade Thursday on all-round selling following the news of surgical strikes by the Indian Army across the Line of Control (LoC) in Jammu and Kashmir.
The Sensex, which opened at 28,423.14 points, last traded at 27,969.04 points — down 323.77 points or 1.14 percent from the previous close at 28,292.81 points.

The Sensex has so far touched a high of 28,475.57 points and a low of 27,719.92 points during the intra-day trade. All the 19 sub-indices of the BSE were trading in the red.

The NSE index Nifty also fell by 186.90 points, or 2.13 percent, to 8,558.25.

Market sentiment suffered a jolt following announcement that Indian Army conducted surgical strikes last night on error launch pads across the Line of Control (LoC) on “very specific and credible information” about Pakistan-based terrorists being pushed into Indian territory for carrying out strikes in Jammu and Kashmir and in various cities in India.