New Delhi: The Pakistan Stock Exchange (PSX) has been under pressure following the tragic terror attack in Jammu and Kashmir’s Pahalgam on April 22, which claimed 26 innocent lives. Investor sentiment has taken a hit amid fears that India may respond with military action, adding to uncertainty in the market.
The PSX saw a sharp drop of over 1,700 points as tensions between India and Pakistan escalated. According to a report by Dawn, the benchmark KSE-100 index fell by 1,717 points or 1.5 per cent to 113,154.83 shortly before 10 a.m., down from its previous close of 114,872.18. Experts say the steep decline reflects growing investor worries over the rising conflict.
Earlier in the day, Prime Minister Narendra Modi met with top defence officials and gave them full freedom to decide how, when, and where India should respond to the Pahalgam terror attack.
India-Pakistan Tensions Rise
After the April 22 terror attack, India took several strong steps against Pakistan. These included downgrading diplomatic ties, expelling Pakistani military officials, suspending the Indus Water Treaty of 1960, and closing the Attari land transit point, which is linked to suspected cross-border involvement in the attack.
Reference : https://zeenews.india.com/personal-finance/war-fears-hit-pakistan-stock-market-psx-crashes-over-1700-points-2893538.html
