Stock Markets Remain Flat

The stock markets brushed off apprehensions of the impact of Operation Sindoor on Indian business. Nifty 50, the hallmark index of the National Stock Exchange, started about 150 points lesser than the previous close but then immediately bounced back to go above it and then settled in that range. This is not a departure from how it has behaved in the past. After the Balakot strikes of 2019 too, the impact had been  marginal just like the present.

Markets don’t like uncertainty, but their relative lack of worry signals that they don’t anticipate the conflict to widen, at least not yet. This might change depending on what Pakistan does and the escalation that happens. Some stocks did get affected. Interglobe Aviation, owners of Indigo Airlines, was down by two per cent before rising up to one percent. This was on the back of disruption of air travel. The airline posted on X, ‘In continuation to our earlier update and in wake of prevailing situation, flights to/from Srinagar, Jammu. Amritsar, Leh, Chandigarh, Dharamshala, Bikaner, and Jodhpur stand cancelled for the day. We are anticipating changes in flight schedules across our network…’

On the other side of the border, the Karachi Stock Market’s index fell dramatically by around 6 per cent when it opened.  The Indian stock markets might however have had a higher increase given the trade deal announced with the United Kingdom yesterday. If at all there was a temporary impact of the border tensions, then it was in not getting that bump.

BikanerChandigarhDharamshalaJammu. AmritsarJodhpurKashmirLehPahalgamSrinagarstock marketterror attack