Police sources say suspected terrorists fired at and injured Abdul Qayoom outside his home in Barzullah area of Srinagar city.
Mr Qayoom was shifted to a hospital where he was operated upon. Doctors say the PDP leader is stable but his condition remains serious.
Earlier in the day, five civilians were injured when terrorists threw a grenade towards a police camp at Imam Sahib in Shopian district. The grenade missed the intended target and exploded on the road.