The stock market has enthusiastically welcomed Operation Sindoor, carried out by the three wings of the indian army in response to the pahalgam attack. After opening in the red zone initially, the Sensex rose by about 100 points while the Nifty is above 24,400. Earlier, in early trade at around 9:30 am, the Sensex fell by 398 points. That is, it was trading at 80,242.64 with a fall of 0.9 percent. Whereas, the Nifty was trading at 24,355.25 with a fall of 24.35 points, that is, 0.10 percent. But, soon after this, the Sensex slipped 600 points down while the Nifty was trading below 24,250.
Stock market recovered after falling
If we talk about Asian market, Nifty has been in a downtrend. Nifty saw a decline of 62.00 points while Nikkei fell by 0.05 percent to close at 36,813.78. Taiwan's stock market is trading down by 0.11 percent at 20,518.36. While Hang Sent increased by about 1.31 percent and reached the level of 22,959.76. Kospi saw a rise of 0.31 percent while shanghai Composite is trading at the level of 3,336.62, up 0.62 percent.
If we talk about a day before, the indian stock market saw a rise for the second consecutive day on Tuesday, May 6, amid mixed signals in the global market. Sensex rose by about 100 points while Nifty crossed 24,500 in early trade.
Market salutes 'Operation Sindoor'
It is worth mentioning that in the wee hours of Wednesday, india attacked 9 terrorist hideouts in pakistan and pakistan occupied Kashmir. It is believed that many terrorists were killed in this attack. However, the official statement from the army will be given a little later. This is being considered a big action by the indian army in response to the pahalgam attack.
On the other hand, the free trade agreement between india and britain has been approved, after which there will be a huge reduction in customs duty on many goods and those goods will become cheaper. The goods which are expected to become cheaper include Britain's whisky and land rover Jaguar along with many other things. Similarly, britain has also given exemption for indians going there for studies and jobs, including reduction in customs duty on indian products.
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