Pahalgam attack: Sensex, Nifty see high volatility after India launches missile strikes on terrorist hideouts in Pakistan
The Hindu
Sensex and Nifty volatile after India's missile strikes on Pakistan; market resilient due to sustained FII buying and global factors.
Benchmark indices Sensex and Nifty witnessed high volatility in early trade on Wednesday (May 7, 2025) after India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir (PoK).
Retaliating against the Pahalgam terror attack, Indian Armed Forces on early Wednesday (May 7, 2025) carried out missile strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base in Muridke.
‘Operation Sindoor’ LIVE: India exercised right to act on terror, says Govt following strikes in Pakistan
The military strikes were conducted under 'Operation Sindoor' two weeks after the Pahalgam attack that killed 26 civilians.
"What stands out in 'Operation Sindoor' from the market perspective is its focussed and non-escalatory nature. We have to wait and watch how the enemy reacts to these precision strikes by India. The market is unlikely to be impacted by the retaliatory strike by India since that was known and discounted by the market," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
“The main catalyst of the market resilience in India is the sustained FII buying of the last 14 trading days which has touched a cumulative figure of ₹43,940 crore in the cash market,” he said.
"FIIs are focussed on the global macros such as weak dollar, slower growth in the U.S. and China in 2025, and India’s potential outperformance in growth. This can keep the market resilient. However, investors have to watch the developments in the border," Mr. Vijayakumar added.
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