In a major escalation, India’s Army, Navy, and Air Force launched joint precision strikes on 9 terror hubs in Pakistan and PoK at 1:44 am—the first such move since the 1971 war—following the Pahalgam terror attack that killed 26 civilians. Pakistan has vowed retaliation, terming it an 'act of war'. Markets now hinge on three catalysts: further military action, global tariff progress, and the US Fed’s policy decision on May 7. Nifty remains volatile with key support at 24,171.