India said on Sunday that the military operations chiefs of India and Pakistan will meet on Monday to discuss the next steps between the nuclear-armed neighbours, as a ceasefire restored calm along the border and boosted investor confidence, lifting both countries’ equity markets.
There were no reports of explosions or projectiles overnight, after some initial ceasefire violations, with the Indian Army saying Sunday was the first peaceful night in recent days along the border, although some schools remain closed.
Saturday’s ceasefire in the Himalayan region, announced by U.S. President Donald Trump, followed four days of intense firing, diplomacy and pressure from Washington.
India’s military sent a “hotline” message to Pakistan on Sunday about the previous day’s ceasefire violations, flagging New Delhi’s intent to respond to further such incidents, a top Indian army officer said.
A spokesman for Pakistan’s military denied any violations.
In a statement on Saturday, India’s foreign ministry said both sides’ director generals of military operations would speak with each other on Monday at 1200 hours (0630 GMT).
Pakistan did not immediately respond to a Reuters request for comment on the talks.
The arch rivals had targeted each other’s military installations with missiles and drones, killing dozens of civilians as relations turned sour after India blamed Pakistan for a terror attack that killed 26 tourists in Jammu and Kashmir’s Pahalgam last month.
Pakistan denies the accusations and has called for a neutral investigation.
India said it launched strikes on nine ‘terrorist infrastructure’ sites in Pakistan and Pakistan-occupied Kashmir (PoK) on Wednesday, but Islamabad has said those were civilian sites.
Impact On Stock Markets
Pakistan halted trading on Monday for an hour after its benchmark share index rose nearly 9%, having recovered most of its losses in the past three sessions after India’s strikes.
Late on Friday, the International Monetary Fund approved a fresh $1.4 billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion programme.
Indian benchmarks jumped about 2.5% in early trade, after the Nifty index lost 1.5% in the prior three sessions. Worries about the conflict also erased $83 billion from equities in the two days until Friday.
While Islamabad has thanked Washington for facilitating the ceasefire and welcomed Trump’s offer to mediate on the Kashmir dispute with India, New Delhi has not commented on U.S. involvement in the truce or talks at a neutral site.
India’s main opposition Congress party, which had backed Prime Minister Narendra Modi after the April 22 attack, called for a special parliament session on the latest developments with Pakistan.
“The government should also give its stand on the statements made by America on the Kashmir issue, as this is a bilateral issue,” Congress leader Sachin Pilot said in a post on X on Sunday.
India, which says disputes with Pakistan have to be resolved directly by the neighbours, has rejected the involvement of any third party.
Hindu-majority India and Islamist Pakistan both rule part of the Himalayan region of Kashmir, but claim it in full.
India blames Pakistan for an insurgency in its part of Kashmir that began in 1989, but Pakistan says it provides only moral, political and diplomatic support to Kashmiri separatists.
(With inputs from Reuters)
