Armed with iron rods, the assailants barged into the police post outside the shrine of Hazrat Sultan Ali at Pakherpora in Budgam, police sources said.
They hit a policeman on the head and decamped with three Self-Loading Rifles (SLRs), the sources said.
Three other policemen posted there had gone to offer prayers when the incident took place, the sources said.
An alert has been sounded in Budgam and adjoining Pulwama district, they added.