As India-Pakistan conflict grows, here's how equity markets, GDP have navigated wars
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As India’s forceful response to Pakistan’s escalations enters its fourth day, a look back at history suggests that while past wars have had minimal lasting impact on domestic equity markets, the country’s economic growth has often borne the brunt of such conflicts. On Friday, Nifty ended with sharp cuts of 1.1% at 24,008 while falling 1.5% since India struck terrorist infrastructure in Pakistan and Pakistan Occupied Kashmir (PoK) on May 7 to avenge the Pahalgam attack. Things are now changing thick and fast. In its analysis of the market movement and the GDP, brokerage firm JM Financial explains the impact of previous wars and how the situation is different this time around. Here is the full break-up of events and their impact: Kargil War – A full-scale war that was fought between May 3, 1999 and July 26, 1999, Nifty jumped 7% at the end of the third-day into the war. By the end of the war, the headline index galloped 35.6%. Parliament at...