Indian Special Forces targeted "some terrorist teams" positioned at launch pads on the LoC, the Army announced. The surgical strikes have raised the possibility of a military escalation between nuclear-armed India and Pakistan. Sensex plunged over 500 points in afternoon trading after statements from the Indian army confirmed surgical strikes against terrorists in Pakistan. This raised worries among traders that it could escalate into a wider conflict. The benchmark index is, however, trading lower by 300-500 points. The Sensex has so far touched a high of 28,475.57 points and a low of 27,995.20 points during the intra-day trade. The BSE market breadth fell prey to the bears - with 1,524 declines and 915 advances. The Director General of Military Operation told a press conference that the army conducted the anti-terror operations on September 28 night to prevent infiltration. There were casulaties, he claimed but did not elaborate. He said the army stood prepared for any escalation of tension on the border. ICICI Bank was the biggest loser, down 3.8% after its arm ICICI Prudential Life Insurance made a tepid debut on the stock exchanges. Shares of ICICI Prudential Life Insurance listed at 1.5% below its issue price on Thursday, and slipped further.