Pahalgam attack: US urges India, Pak to de-escalate tensions; backs Delhi's fight against terrorism
New Delhi, May 1 (PTI): The US has urged India and Pakistan to work together to de-escalate tensions over the Pahalgam terror attack as US Secretary of State Marco Rubio held separate talks with External Affairs Minister S Jaishankar and Pakistan Prime Minister Shehbaz Sharif to emphasise on maintaining "peace and security" in South Asia.
In his phone conversation with Sharif, the US Secretary of State called for Islamabad's cooperation in investigating the "unconscionable attack" that killed 26 people.
The "perpetrators, backers and planners" of the April 22 Pahalgam terror attack must be brought to justice, Jaishankar said on X, hours after speaking to Rubio who reaffirmed Washington's support to India's fight against terrorism.
The US Secretary of State spoke to Sharif and Jaishankar on Wednesday amid speculation about India's possible military strikes against Pakistan in view of the cross border linkages to the dastardly terror attack.
A day after the Jaishankar-Rubio talks, US Defence Secretary Pete Hegseth dialled Defence Minister Rajnath Singh and conveyed that Washington supports New Delhi's "right to defend" itself and its fight against terrorism.
Singh told Hegseth that Pakistan has been "exposed" as a "rogue" state fuelling global terrorism, and "destabilising" the region, adding the world can no longer turn a "blind eye" to terrorism.
In his phone conversation with Jaishankar, Rubio expressed his "sorrow" for the lives lost in the "horrific" terror attack and reaffirmed the US' commitment to cooperation with India against terrorism, according to the US State Department.
"Discussed the Pahalgam terrorist attack with US @SecRubio yesterday. Its perpetrators, backers and planners must be brought to justice," the external affairs minister said on X.
US State Department Spokesperson Tammy Bruce said: "The Secretary expressed his sorrow for the lives lost in the horrific terrorist attack in Pahalgam, and reaffirmed the United States' commitment to cooperation with India against terrorism."
"He also encouraged India to work with Pakistan to de-escalate tensions and maintain peace and security in South Asia," she said.
On Rubio's phone talks with Sharif, Bruce said the Secretary encouraged Pakistan to work with India to de-escalate "tensions, re-establish direct communications, and maintain peace and security in South Asia".
"The Secretary spoke of the need to condemn the terror attack on April 22 in Pahalgam. Both leaders reaffirmed their continued commitment to holding terrorists accountable for their heinous acts of violence," she said.
"The secretary urged Pakistani officials' cooperation in investigating this unconscionable attack," Bruce added.
During the phone call, Sharif rejected "India's attempt to link Pakistan" to the Pahalgam attack and reiterated Islamabad's call for an impartial investigation into it, according to a Pakistani readout.
Citing "cross-border linkages" to the horrific attack, India has promised severe punishment to those involved in the strike.
In a high-level meeting with the top defence brass, Prime Minister Narendra Modi on Tuesday asserted that the armed forces have "complete operational freedom" to decide on the mode, targets and timing of India's response to the terror attack, according to government sources.
The prime minister affirmed that it is a national resolve to deal a crushing blow to terrorism, they said after the meeting.
India on April 23 announced a raft of punitive measures against Pakistan including suspension of the Indus Waters Treaty, shutting down of the only operation land border crossing at Attari and downgrading of diplomatic ties in view of cross-border links to the attack.
In response, Pakistan shut its airspace to Indian airliners and suspended all trade with India, including through third countries.
Pakistan rejected India's suspension of the Indus Waters Treaty and said any move to stop the flow of water will be seen as an "act of war".
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Markets continue to trade lower amid rising India-Pak tensions; Sensex tanks nearly 800 points
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Mumbai (PTI): Stock market benchmark indices Sensex and Nifty continued to trade sharply lower on Friday late morning session as tensions soared between India and Pakistan fuelling fears of a wider conflict.
India on Thursday night swiftly thwarted Pakistan's fresh attempts to strike military sites with drones and missiles including in Jammu and Pathankot after foiling similar bids at 15 places in northern and western regions of the country, as tensions soared between the two countries.
The Indian armed forces on Wednesday had carried out precise missile strikes on nine terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan under ‘Operation Sindoor’.
Extending its previous day's decline, the 30-share BSE benchmark gauge tanked 771.01 points to 79,566.02 during the late morning trade. The NSE Nifty dropped 205.55 points to 24,068.25.
"Under normal circumstances, on a day like this, the market would have suffered deep cuts. But this is unlikely due to two reasons. One, the conflict, so far, has demonstrated India's clear superiority in conventional warfare, and therefore, further escalation of the conflict will inflict huge damage to Pakistan.
"The market is inherently resilient, supported by global and domestic macros. Weak dollar and potentially weakening US and Chinese economies are good for the Indian markets," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
From the Sensex firms, Power Grid, ICICI Bank, NTPC, Eternal, UltraTech Cement, Adani Ports, Bajaj Finserv and Bajaj Finance were among the laggards.
Larsen & Toubro jumped 4 per cent after the firm reported a 25 per cent increase in consolidated profit after tax (PAT) to Rs 5,497 crore for the quarter ended on March 31, 2025, supported by higher revenues and an exceptional gain.
Titan Company traded nearly 4 per cent higher after the Tata group firm reported a 13 per cent increase in its consolidated profit after tax at Rs 871 crore in the March quarter, driven by robust sales.
Tata Motors, State Bank of India, Asian Paints and Mahindra & Mahindra were also the gainers.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,007.96 crore on Thursday, according to exchange data.
"Profit-taking is likely to continue as investors fearing worse going ahead could trim their equity holdings despite the global mood remaining optimistic," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index were quoting lower, while Japan's Nikkei 225 index and Hong Kong's Hang Seng traded higher.
US markets ended in the positive territory on Thursday.
Global oil benchmark Brent crude climbed 0.53 per cent to USD 63.17 a barrel.
On Thursday, the BSE Sensex declined by 411.97 points or 0.51 per cent to settle at 80,334.81. The Nifty ended lower by 140.60 points or 0.58 per cent at 24,273.80.
