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Stock, Currency Markets to Stabilise in Few Days: Arun Jaitley

Press Trust Of India

First published: September 29, 2016, 8:02 PM IST | Updated: September 29, 2016
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Stock, Currency Markets to Stabilise in Few Days: Arun Jaitley
File photo of Finance Minister Arun Jaitley. (PTI)

New Delhi: The Finance Ministry on Thursday exuded confidence that currency and stock markets, which tumbled following the surgical strike, will stabilise in the next few days and decisive action against terrorism will spur growth.

While the stock market barometer Sensex plummeted 465 points to close at 27,827, the rupee declined by 39 paisa to a dollar-- its biggest single-day fall in three months.

"The markets including the currency markets, the stock market they will stabilise in a matter of a very very few days," Economic Affairs Secretary Shaktikanta Das told reporters.

Earlier during the day, Finance Minister Arun Jaitley termed Indian army's "surgical strikes" on terrorists preparing to infiltrate from Pakistan-occupied Kashmir as pre- emptive action.

Late last night India carried out 'surgical strikes' on terror launch pads across the Line of Control (LoC) in Jammu and Kashmir, inflicting "significant casualties" on terrorists and those who are trying to support them.

In a tweet earlier, Das had also said: "Terrorism (is the) biggest threat to our financial and economic stability and growth. Decisive action against terrorism will spur growth and stability".