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Sensex tanks 573 points on surgical strikes at terror launchpads

Thursday, Sep 29, 2016,14:34 IST By metrovaartha A A A

Mumbai | In a sharp plunge, stock market benchmark Sensex tanked by 573 points following announcement that India conducted “surgical strikes” last night on terror launch pads across LoC.

The Sensex plunged 572.89 points, or 2.02 per cent, to 27,719.92, with all sectoral indices led by realty, healthcare, power and metal slumping by up to 5.05 per cent.

On similar lines, the National Stock Exchange index Nifty dropped by 186.90 points, or 2.13 per cent, to 8,558.25.

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.

This triggered all-round selling in the stock market.

Most of the 30-Sensex constituents led by Adani Ports, ICICI Bank, Axis Bank, Lupin, Tata Motors, Sun Pharma, Tata Steel, GAIL, SBI, NTPC, Dr Reddy’s, Larsen and Toubro and Asian Paints were trading in the negative terrain, falling by up to 4.75 per cent.

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