Five Army soldiers were killed and four seriously injured when the vehicle in which they were travelling plunged into a 300 ft deep gorge near the Line of Control (LoC) in the Poonch district on Tuesday evening.
This was in line with a bearish trend in equities, where Tata Consultancy Services (TCS) and Reliance Industries faced the sharpest erosion.
The bus carrying staff members of a school to a marriage ceremony rolled into the gorge about 5 km away from the Durbuk TCP.
The bus was carrying 63 members of a bridegroom's family from Rajendra Nagar of Dharmavaram in Anantapur district to attend the engagement at Tiruchanoor, which was scheduled on Sunday.
"Morgan Stanley has downgraded Indian markets to equal weight. All these could lead to FPI unwinding and continued pressure on indices," said Deepak Jasani, Head of Retail Research, HDFC Securities.
