Mumbai:
Indian stock markets act in red while tensions between India and Pakistan are rising over the terror attack of Pahalgam in Kashmir. Sesex, the BSE benchmark with 30 shares, has crashed more than 1,000 points and is now trading under the 79,000-mark. Nifty, the NSE index of 50 shares, fell below 24,000 points.
The markets went up in early trade, driven by a worldwide rally and funds, but the momentum was lost afterwards, and it gave up the first win.
The markets are also upset due to the unstery profit of March by Axis Bank, the third largest bank of the country's private sector. The bank's shares fell by 4.65% after reporting a decrease in the quarterly profit of RS 7,130 Crore in the period from a year ago to RS 7,117 Crore.
In addition to Axis Bank, large Laggards Bajaj Finance, Bajaj Finnish, Tata Motors and Tech Mahindra include. On the profit side are TCS, Infosys, Reliance, HCL Tech, HDFC Bank and Icici Bank.
At least 26 civilians were slaughtered by terrorists in a tourist hotspot that is known as 'mini Switzerland', which led to both countries taking off their diplomatic staff and hanging visas that have been issued to the citizens of the other nation. (Follow live updates here)
The latest flare -up on the line of control was speculatively dismissed by Pakistani troops, which is seen as an attempt to provoke the Indian side. Indian troops effectively took revenge on shooting several Pakistani posts.
While the Indian shares were deleted for the impact, worldwide shares, including the Asian markets, were mapping in the positive area. The Kospi index of South Korea, Tokyo's Nikkei 225, Hong Kong's Hang Seng and Shanghai SSE Composite were all in green.
Similar trends were also seen in US shares. Nasdaq Composite closed 2.74 percent higher last night. S&P 500 jumped by more than 2 percent and the industrial average of Dow Jones rose by 1.23 percent.
