Led by BJP MLA Ravinder Raina, the protesters held the marches in the border towns of Sunderbani and Noushera, and staged demonstrations amid the chanting of anti-Pakistan and anti-militants slogans.
They also burnt the national flag of Pakistan in both the places.
Calling the militants "cowards", Raina said it was an attempt to silence the voices of people in Kashmir.
"He was killed when he was unarmed. They killed him in a cowardly manner. Militants can only do such cowardly acts," Raina said.
The body of Bhat, aged 30, who was kidnapped by militants, was recovered from an orchard in Kiloora in Shopian district of South Kashmir yesterday with his throat slit.