As per an official statement, Malik has said, "This attack on a saner Kashmiri voice is barbaric, gruesome and direct assault on freedom of speech and expression".
The Hindu newspaper, quoting police, said the attackers fired "from a close range" with the bullets hitting him in the chest after which he succumbed to his injuries in a hospital. There was no immediate word from police on the identity or possible motive of the gunmen.
His final tweet, sent just a few hours before his murder, was a link to his website´s reporting of the United Nations human rights chief calling for a major investigation into abuses committed by India in Kashmir.
India had suspended operations against militants fighting its rule in Kashmir during the holy Muslim month of Ramadan which began last month, after weeks of sporadic violence there.
Senior journalist Shujaat Bukhari has been shot dead by three bike-borne terrorists outside his office in Srinagar.
"Extremely shocking news", said Jammu and Kashmir Chief Minister Mehbooba Mufti, who broke down in front of cameras. "Justice will be done".
The killing came hours after the UN's human rights office called for an independent inquiry into human rights violations in both parts of Kashmir, run respectively by India and Pakistan.
Condemnation of his killing in Srinagar, the summer capital of India's Jammu and Kashmir state, and condolences poured in from across the country.
More than 130 people have been killed this year in militant violence in Kashmir.
This is the first attack on a journalist in a long time in Kashmir which has been facing severe attacks on civilians and security personnel in the recent past.
Bukhari, a frequent contributor to the BBC News website, was attacked in his auto near the office of the Rising Kashmir newspaper, which he edited.
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