The morning had been beautiful for both the bourses. Sensex opened with a rise of over 150 points while Nifty jumped past 8,800 over the positive Global cues. Stocks like ONGC and Reliance became the top gainers right in the start. MCX share pricejumped 10% to hit fresh 52-weeks high in the first thirty minutes of trade. ICICI Prudential listed its IPO at the discounted price of 1.5%, making a tepid start. Kerala government’s plan of revised liquor policy took the stocks of United Breweries, United Spirits and Radico Khaitan to the ride of 10% hike. Among these activities DGMO briefed media over the surgical strikes crossing the LOC. The event began around 12:15 PM, following which Sensex tumbled over 500 points with Nifty breaching 8,600 level by 12:40 PM. India’s Volatility Index went up by 31% hitting the three month high.
DGMO’s Brief to Media:
The Director General of Military Operations, Lt General Ranbir Singh briefed media regarding the Surgical Strike conducted by the India Army crossing the Line of Control into Pakistan occupied Kashmir. He said that the many infiltration bids by the terrorist at LOC have been a matter of serious concern. It reflected in the terror attacks in Poonch and Uri. Indian Army conducted the surgical strike on terror launch pads over LOC after the army recovered GPS and materials with the markings of Pakistan. The strike has caused significant casualties in Pakistan and has inflicted considerable damage to the terrorists’ position and their terror camps. He also stated that Indian Military doesn’t want to continue with these operations but they are ready for any contingency plan. Terrorism will not be tolerated.
The Message Delivered:
The Surgical Strike has delivered two messages: One to Pakistan making it clear that it will not take things lightly any more and other to the International Community defining its stand that it will act only to neutralize terrorists across the border, not intending to escalate it beyond the current operation.
Pakistan Reacts:
Pakistani Army alleged that the firing from Indian Army across the LOC was unprovoked. However the Pakistani Military has swiftly dismissed the notion of Surgical Strike.
The Prime Minister of Pakistan made a statement that their intent for a peaceful neighborhood should not be mistaken as their weakness. The residents of Pakistan reacted strongly over the firing stating that if India tries to impose war on them, they will teach a lesson that India will remember for generations. The resident firmly retorted that fighting with Pakistan does not mean fighting with the Pakistani army only. The entire nation will side with the Army on the war.
The AJK Legislative Assembly Speaker Shah Ghulam Qadir said that they prefer to settle the issues through dialogue and that includes Kashmir as well. And India can’t pressurize them by violating the ceasefire.
Two Pakistan Army soldiers were killed in the strike that took place in Bhimber, Hot Spring and Kel and Lipa sectors. The strike lasted about six hours. PM Modi is yet to take a stand regarding the air links between the two countries. All eyes, including that of investors are set on the developments that might take place later. At present Nifty is trading at 8,655 and Sensex at 27,997.
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