India’s benchmark indexes are set to open lower on Wednesday amid geopolitical tensions, following Indian strikes on Pakistan and Pakistani-controlled Kashmir, marking the most intense conflict between the nuclear-armed neighbors in over 20 years.
The Gift Nifty futures were trading at 24,339, as of 7:16 a.m. IST, indicating the Nifty 50 will open below Tuesday’s close of 24,379.6.
India said it struck nine Pakistani sites that were “terrorist infrastructure” where attacks against it were orchestrated. Islamabad said six Pakistani locations were targeted.
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India’s offensive followed an attack by Islamist assailants that killed 26 Hindu tourists in Indian Kashmir last month.
Pakistan termed Indian strikes a “blatant act of war”, while the United Nations called for maximum military restraint from both countries.
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