The Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have expressed solidarity with both the central and state governments in the wake of a terrorist attack in a meadow near Kashmir’s resort town of Pahalgam, where at least 26 people have been killed, the apex industry bodies said in statements.

“The CII is deeply saddened and expresses its heartfelt condolences to the families of the victims of the heinous attack in Pahalgam, J&K, last evening. This senseless act of violence targeted on innocent people, mainly tourists, not only claims precious lives but also threatens peace and prosperity in the region,” CII president Sanjiv Puri said in an official statement.

“CII and the Indian industry stand united with Governments at both Centre and State level and all stakeholders to collectively push back these attempts that compromise the security and well-being of our nation,” he added.

FICCI expressed profound anguish and grief in its statement. “FICCI extends its heartfelt condolences to the bereaved families and prays for the speedy recovery of those injured in this senseless act of violence,” the statement reads.

“We are deeply shocked and saddened by this horrific attack that has caused immeasurable suffering to dozens of families across India," said Harsh Vardhan Agarwal, President of FICCI. “Our thoughts and prayers are with the victims and their loved ones during this moment of profound grief,” he added.

The impact of the attack was palpable on Dalal Street as well, where shares of Jammu and Kashmir Bank plunged nearly 10% on Wednesday—snapping a five-session gaining streak to hit an intraday low—whereas airline and hotel stocks also remained under stress amid dampening sentiment after the attack. Going forward, investors will keep a close eye on the government’s response to the terrorist attack, and any retaliatory recourse could spook sentiments.