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Investing.com-- Indian equity markets fell sharply on Friday amid escalating tensions with Pakistan following a series of cross-border drone and missile exchanges.
The BSE Sensex 30 dropped over 900 points, falling below the 80,000 mark at open, while the Nifty 50 slipped beneath 24,000.
As of 10:30 IST (05:00 GMT), BSE Sensex was trading 0.8% lower at 79,785.28, while the Nifty 50 declined nearly 1% to 24,038.25 points.
The market downturn followed India’s announcement on Thursday that it had "neutralized" Pakistani-origin drones and missiles targeting military installations in Jammu, Pathankot, and Udhampur. India’s Ministry of Defence reported no casualties or material losses.
Pakistan denied initiating the attacks and accused India of launching drone strikes that resulted in civilian casualties.
The current hostilities- some of the worst between the two nuclear-armed neighbors in decades- are related to a deadly attack in India’s Kashmir region in April, which New Delhi blamed on Pakistan.
As both nations exchange accusations and military actions, international calls for de-escalation have intensified, with the U.S. and EU urging restraint to prevent further conflict.