Jubilee Post News & Views
Jubilee News Desk
What happened on the Indo-China border made an impact upon the share markets inside India. Both Sensex and Nifty recorded initial fall with the opening bell.
Indian and Chinese troops have disengaged at the Galwan area where they had earlier clashed on the night of 15/16 June 2020. 17 Indian troops who were critically injured in the line of duty at the stand-off location and exposed to sub-zero temperatures in the high altitude terrain have succumbed to their injuries, taking the total that were killed in action to 20.
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The Indian Army is firmly committed to protect the territorial integrity and sovereignty of the nation,” the India Army said in an official release. This incident led to increases tension on the border and the UN too is looking at the border situation.
The opening trade went down 250 points and Sensex stopped at 33400 while Nifty came down 70 points to reach 9900 points. BSE Midcap and Smallcap indices trading with marginal gains.
Later the recovery was seen at 12 pm, as the Sensex was up 71.67 points or 0.21% at 33676.89, and the Nifty was up 20.30 points or 0.20% at 9934.30.
Market experts have an opinion that the current hostilities mark the beginning of China entering into a more volatile chapter concerning LAC. But Beijing’s choice of time for its power projection at New Delhi’s Himalayan border is miscalculated.
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