Sensex and Nifty erased all their gains and fell into red in afternoon session today after three army personnel died in Galwan valley in Ladakh in clashes with Chinese forces. After trading in green since morning on positive global cues, Sensex lost 275 points to 32,953 and Nifty fell 85 points to 9,728. Later, Sensex and Nifty recovered all losses to trade flat amid positive global cues.
The incident took place on Monday night. Indian Army confirmed the clashes and issued a statement.
"During the de-escalation process underway in the Galwan Valley, a violent face-off took place yesterday night with casualties. The loss of lives on the Indian side includes an officer and two soldiers. Senior military officials of the two sides are currently meeting at the venue to defuse the situation," stated the official statement by the Indian Army.
Earlier in the day, Sensex gained 794 points to 34,022, Nifty rose 233 points to 10,046 after global markets turned upbeat on US Federal Reserve saying it would start purchasing corporate bonds in the secondary market, one of several emergency facilities launched in the wake of the coronavirus pandemic.Sensex rises 800 points, Nifty above 10K: What's driving the rally today
By Aseem Thapliyal