Investors are concerned about potential Indian military action against Pakistan.
The impact of India’s aggressive stance released since the Pahalgam terror attack was also seen on the Pakistan Stock Exchange on Wednesday. The Pakistan stock exchange fell 3545 points in the possibility of an attack from India. According to the news of Pakistani media company DAWN, experts explained the cause of the heavy fall in the shares of Pakistan Stock Exchange (PSX). The index finally closed at 1,11,326.57 after a day -long huge uproar, which is 3,545.61 or 3.09 percent lower from the previous closed level 1,14,872.18.
The decline throughout the day
According to the news, the benchmark KSE-100 index declined to 1,717.35 points or 1.5 percent to 113,154.83, compared to closed at 114,872.18 last time. At 10:38 am, the index fell by 2,073.42 points or 1.8 percent from the previous bandh. By 1:50 pm, the stock market saw more selling pressure, as the KSE-100 index fell by 3,255.42 points or 2.83 percent from the previous shutdown.
Concern increased after information minister’s press briefing
The Pakistani market expert blamed the news of a possible attack in the next few days for this decline in the Pakistan Stock Exchange. Investors are concerned about potential Indian military action against Pakistan, this concern has increased after the press briefing of the Information Minister. He said that the market was under pressure after the information minister’s statement last night, in which he suggested that India could take military action within the next 24-36 hours.
Returned in the last session
In the last session, the KSE-100 index was boosted when the International Monetary Fund (IMF) confirmed that the IMF’s Executive Board would meet on May 9, in which the country’s employee-level agreement will be discussed for a new system of $ 1.3 billion under the climate flexibility loan program. In addition, Pakistan will also have the first review of the $ 7 billion bailout program.
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