Air strike on terror camps in Pakistan increases Narendra Modi's chance to retain power: Stock market analysts
FirstpostMumbai: The air strike on terror camps in Pakistan is a positive for the markets as it illustrates a “decisiveness” in foreign policy and increases the chances of Narendra Modi to retain power after the forthcoming polls, say analysts. And this gives higher odds to the Modi government staying on post-elections,” Sameer Kalra, an equity research analyst and founder at Target Investing, said in a note on Tuesday. In a note, SBI economists gave an account of how the markets reacted to the earlier armed conflicts like after the cross-border action by India following the Uri attack in 2016 and also the Kargil conflict, where Pakistani intruders were pushed back. In a swift and precise air strike following the Pulwama attack, India bombed and destroyed Jaish-e-Mohammed’s biggest training camp in Pakistan early on Tuesday, killing a “very large number” of terrorists, trainers and senior commanders.