India, Pakistan military operations chiefs hold talks

The military operations chiefs of India and Pakistan spoke by phone on Monday, the Indian army said, following a ceasefire that paused days of intense fighting last week.

There were no reports of explosions or projectiles fired overnight, with the Indian army saying Sunday was the first peaceful night along their border in recent days.

Saturday's ceasefire, announced by US President Donald Trump, followed four days of intense exchanges of fire as the nuclear-armed arch rivals targeted each other's military installations with missiles and drones.

Leaders of India and Pakistan were "unwavering", and the US "helped a lot", Trump said on Monday, adding that trade was a "big reason" why the countries stopped fighting.

"We are going to do a lot of trade with Pakistan...and India. We are negotiating with India right now. We are soon going to negotiate with Pakistan," he said.

Pakistan has thanked the US for brokering the ceasefire while India, which opposes third-party involvement in its disputes with Pakistan, has not commented on Washington's role.

The discussion between the military operations chiefs focused on the ceasefire, Indian broadcaster CNN-News18 reported, citing top government sources.

It said curbs imposed by the countries on each other remained in place, including the suspension of trade and closure of their borders.

The Indian army said details of the talks would be shared soon.

The military confrontation began on Wednesday, when India said it launched strikes on nine "terrorist infrastructure" sites in Pakistan following a terrorist attack in India's Jammu and Kashmir territory last month that killed 26 men. New Delhi blamed the attack on Pakistan.

Islamabad denied any links to the attack and called for a neutral investigation. It said the targets hit on Wednesday were civilian sites.

India and Pakistan both rule part of the Himalayan region of Kashmir, but claim it in full.

On Monday, India reopened 32 airports it had shut during the clashes, with the Airports Authority of India saying in a statement they were available for civil operations. Some schools remained closed.

Pakistan had reopened its airspace on Saturday.

Pakistan's international bonds rallied sharply, adding as much as 5.7 cents in the dollar, Tradeweb data showed.

Late on Friday, the International Monetary Fund approved a fresh $1.4 billion loan and also the first review of its $7 billion programme.

Pakistan's benchmark share index KSE closed up 9.4 per cent on Monday, while India's blue-chip Nifty 50 NSEI index closed 3.8 per cent higher in its best session since February 2021.

In Beijing, the foreign ministry said China, which also controls a small slice of Kashmir, was willing to maintain communication with both its neighbours, and play a "constructive role in achieving a comprehensive and lasting ceasefire" and maintaining peace.

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.