India has rejected U.S. President Donald Trump’s claim that he helped New Delhi and Islamabad reach a ceasefire in exchange for trade concessions.

India and Pakistan engaged in the most intense fighting in decades with four days of escalating conflict that included fighter jets, missiles and drones packed with explosives. It ended almost as abruptly as it began.

India says its strikes into Pakistan-administered Kashmir and Pakistan on Wednesday killed more than 100 militants.

A ceasefire agreement between India and Pakistan, announced by President Donald Trump earlier today, has allegedly been violated by Pakistan. Indian Foreign Secretary Vikram Misri said the Indian army is retaliating against the border intrusion.

Mohammad Iqbal was working the nightshift at a power plant when he got a frantic call from his family saying artillery shells were exploding around their home.

India and Pakistan on Saturday reached an understanding to stop all military actions on land, in the air and at the sea, in a U.S.-brokered ceasefire.

With last-minute U.S. mediation, cooler heads prevailed between India and Pakistan. But a flare-up is inevitable.

Analysts believe that if the current stability holds over the next 24–48 hours, with no retaliatory actions or escalatory rhetoric from India or Pakistan, the stock markets are likely to respond constructively.