After the failure of peace talks between Iran and America, stock markets around the world witnessed a decline on Monday. In India too, Sensex and Nifty fell around 1.5 per cent each; However, its biggest and most serious impact is being seen on Pakistan’s Karachi Stock Exchange (KSE). Karachi Stock Exchange has recorded a decline of more than 4 percent. As a result, Pakistani investors have suffered a loss of more than Rs 78,000 crore. According to market experts, the Pakistani stock market may fall further in the coming days. Earlier, just last week—on Wednesday—the KSE had surged by a massive 12,000 points. At that time, President Trump had announced a ceasefire, and it was later revealed that Pakistan was trying to play a key role in brokering peace talks between Iran and the US. Let us take a look at the key figures being seen on the Karachi Stock Exchange at this time.
Heavy fall in Karachi Stock Exchange
On Monday, the Karachi Stock Exchange appeared to have completely collapsed. According to the data, the KSE fell by more than 7,000 points during the trading session, hitting the day’s low of 160,158.92 points. Just a day earlier, the KSE stood at 167,191.38 points. As of 3:30 pm, the KSE was trading at 160,801.83 points—down nearly 6,400 points. It is noteworthy that as of April 10, the KSE had registered a rise of 18,448.07 points—i.e. 12.40 percent—in the month of April itself. On Wednesday, the KSE had gained over 12,000 points, while on March 31 it had closed at 148,743.31 points.
Investors have suffered huge losses due to this huge fall in KSE. According to the data, when the KSE closed on April 10, the total market capitalization was $66.58 billion; However, during the trading session, the figure dropped to $63.78 billion. This means investors on the Karachi Stock Exchange have lost $2.8 billion. If calculated in Pakistani rupees, this figure comes to more than Rs 780 billion. For Pakistan, which is facing economic crisis, this is a huge economic blow.
Sensex and Nifty also declined
On the other hand, both in terms of absolute points and percentage, the Indian stock market saw a much smaller decline than that of Pakistan. Bombay Stock Exchange’s benchmark index, Sensex, closed at 76,847.57 points, registering a decline of nearly 703 points. However, during the trading session, Sensex witnessed a sharper intraday fall of 1,681.93 points. Meanwhile, the National Stock Exchange’s benchmark index, Nifty, also declined significantly. According to the data, Nifty closed at 23,842.65 points, a decline of 207.95 points. During the trading session, Nifty fell by nearly 500 points, hitting an intraday low of 23,555.60 points.
