The BSE Sensex recovered 250 points while the NSE Nifty recovered 150 points towards the noon. The indices faced a slump after news reports said that the IAF launched air strikes in the terror camps of JeM in Balakot, Pakistan.
The Indian market recovered partially towards the noon on Tuesday after a slump in the early morning deals. The decline in the morning came after the Indian Air Force (IAF) attacked Jaish-e-Mohammad terror camps in Pakistan-occupied Kashmir.
At 12:20 PM, the BSE Sensex was down 252 points at trading 35,960 while the NSE Nifty was down 54 points at 10,826.
The BSE Sensex recovered 250 points while the NSE Nifty recovered 150 points towards the noon.
At 11:30 AM, Foreign Secretary Vijay Gokhale confirmed the reports and said India struck the biggest training camp of JeM in Balakot, Pakistan.
The confrontation follows the February 14 suicide bombing in Pulwama, Kashmir, when 40 CRPF were killed by a Pakistani-based militant group.
All, except 4 stocks in the Nifty50 were trading in the red. Yes Bank, Indiabulls Housing Finance, Hindalco, Tata Steel and SBI were among the top five losers of the index. All Nifty sectoral indices were trading negative in the early morning deals, of which Nifty Realty fell the most, down 2.8 percent.
Index heavyweights on the NSE took a beating, with Reliance Industries Ltd and Housing Development Finance Corp declining as much as over 2 percent.
On the global front, Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline.
Spreadbetters pointed to a weak start for Europe with futures for London's FTSE off 0.6 percent even as fears of a no-deal Brexit faded. US stock futures were down too, with E-Minis for the S&P 500 falling 0.4 percent.
First Published: IST