New Delhi, May 8 -- Though Indian stock market indices have a record of falling in response to armed conflicts, the latest strike by India on targets in Pakistan did not bother investors on Wednesday. The Sensex edged lower at first, but quickly recovered to end 0.13% higher. It offered a sharp contrast with Pakistan's market, whose primary index dropped 6%.

Also Read: Mint Quick Edit | Pakistan is caught in a time warp| Pakistan is caught in a time warp

The Indian equity market's stability may have the focused nature of the strikes to thank. Though hard-hitting, India's action only struck terror infrastructure, which investors may have read as a signal that the country was keen not to risk an escalation into full-blown war. The governm...