The S&P BSE Sensex fell as much as 499 points and NSE Nifty index dropped below 10,750 before Sensex closing 240 points lower at 35,974 and Nifty falling 45 points to shut shop at 10,835. India carried out "non-military, pre-emptive air strikes" across the Line of Control early this morning to target the terror group Jaish-e-Mohammed, which was planning more attacks in the country after Pulwama, the government said on Tuesday.

"Geopolitical tensions have affected the markets... More downside can be expected. Meanwhile, the rupee fell to 71.1375 to the dollar from Monday’s close of 70.9850. Indian bonds opened slightly late after a technical glitch on the trading and clearing platform. The 10-year benchmark bond yield rose to 7.5856 percent compared with 7.5839 percent on Monday. Most shares traded in the red with both the indexes declining more than 1 percent minutes after markets opened.

The S&P BSE Sensex fell as much as 499 points and NSE Nifty index dropped below 10,750 before Sensex closing 240 points lower at 35,974 and Nifty falling 45 points to shut shop at 10,835. India carried out "non-military, pre-emptive air strikes" across the Line of Control early this morning to target the terror group Jaish-e-Mohammed, which was planning more attacks in the country after Pulwama, the government said on Tuesday.

"Geopolitical tensions have affected the markets... More downside can be expected. Meanwhile, the rupee fell to 71.1375 to the dollar from Monday’s close of 70.9850. Indian bonds opened slightly late after a technical glitch on the trading and clearing platform. The 10-year benchmark bond yield rose to 7.5856 percent compared with 7.5839 percent on Monday. Most shares traded in the red with both the indexes declining more than 1 percent minutes after markets opened.