Sensex ends 240 points lower on rising India-Pakistan tension

After cracking nearly 500 points, the 30-share Sensex pared some losses but ended 239.67 points, or 0.66%, lower at 35,973.71. It hit a low of 35,714.16 and a high of 36,172.52.

The gauge surged 342 points in Monday’s trade.

The 50-share Nifty also fell 44.80 points, or 0.41%, to 10,835.30 after hovering between 10,729.30 and 10,888.75.

Losses were more pronounced in banking, realty and PSU counters.

 “Indian indices traded lower mainly due to two factors — first, the indications of weakness from all major Asian markets since their opening; and second, the strike carried out by the Indian Air Force against terrorist camps located inside Pakistan,” said Joseph Thomas, head research, Emkay Wealth Management.

While the former may be considered reflective of the evolving broader global perspective, the latter may have limited or transient impact on the market direction, he said, adding that markets may remain quite volatile in the coming days, especially, in the light of the fast approaching general elections.

The Indian Air Force claimed to have struck Jaish-e-Mohammed’s (JeM) biggest camp in Pakistan early Tuesday in a major “preemptive” action, killing a large number of militants and trainers of the Pak-based militant group. Agencies