Sensex sees wild swings as tensions between India and China escalate in Galwan valley

• Sensex erased an 800-point rally and then recovered about half of it in mid-day trade.
• Earlier in the day, Indian Army confirmed that soldiers were killed on both India and China’s sides on Monday night (June 15) after violent clashes erupted.
• Tata Motors, Axis Bank and Bharti Airtel were among the top losers on Nifty50.

India’s stock markets see wild swings after tensions between India and China flared up in the Galwan Valley in Ladakh. Sensex, the benchmark equity index, erased an 800-point rally and then recovered about half of it in mid-day trade on Tuesday.

Earlier in the day, Indian Army confirmed that soldiers were killed on both India and China’s sides on Monday night (June 15) after violent clashes erupted during the de-escalation that is underway in Galwan Valley in Ladakh.

The Indian Army has issued a statement saying senior officials from both the sides are meeting to defuse the situation.

These are the top ten losers on the Nifty:

Top Nifty losers	% change
Tata Motors	-5.87
Bharti Infratel	-2.92
IndusInd Bank	-2.78
Tech Mahindra	-2.72
Axis Bank	-2.41
GAIL	-1.96
Indian Oil Corporation	-1.57
ITC	-1.39
Bharti Airtel	-1.28
Power Grid Corporation of India	-1.01

SEE ALSO: ‘Serious clashes’ between India and China⁠ in Galwan Valley — the Indian army says soldiers were killed on both sides
India and China are testing each other at the Ladakh border— but it won’t be another war like in 1962, according to experts