Cross border tensions with Pakistan across LoC strains indices, slip into red

Epic Update Dr Reddy's LabsEpic Update Dr Reddy's Labs

Selling pressure intensified on the D-Street in the afternoon session after media reports surfaced that tensions across the LoC intensified after Pakistan Air Force’s jet fighter planes made flights near the Siachen glacier during the day.

The report, quoting Pakistani media, also suggested that forward operating bases were made operational. The development is seen as a response to a video released by the Indian Army on Tuesday which showed punitive fire being conducted on Pakistani camps in Noushera in Jammu & Kashmir.

The Sensex was down 25.72 points or at 30339.53, while the Nifty was down 12.90 points at 9373.25. The market breadth slipped further into the negative zone as 859 shares advanced against a decline of 1,626 shares, while 133 shares were unchanged.

BHEL, Cipla and Bharti Infratel lost the most, while Tata Motors, GAIL and Tata Motors DVR were the top gainers.

 

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