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There is a big fall in the stock market of Pakistan today i.e. on March 2. The KSE-30 index fell 9.6% as markets opened. Due to heavy selling, trading in the market had to be stopped for 45 minutes i.e. lower circuit was imposed.
The increasing tension in the Middle East and the ongoing dispute with neighboring country Afghanistan has had a direct impact on investor sentiment. During trading, the KSE-30 index fell by about 5000 points to the level of 46,000.
Protests across the country after attacks on Iran The main reason for this decline in the market is the increasing threat of war in the Middle East. After the attacks by America and Israel on Iran, massive protests in support of Iran have started in Pakistan.
At least 10 people were killed in clashes with police after protesters tried to enter the US Embassy in Karachi on Sunday. The deteriorating conditions of the country have scared investors.
Tension also increased on Afghanistan border Apart from the Middle East, Pakistan’s relations with its neighboring country Afghanistan are also deteriorating. Due to increasing tension on the border, pressure on the country’s economy and market has increased. Experts say that until there is peace on the political and international front, there will be uncertainty in the market.
Slowdown in markets around the world including India Not only in Pakistan, selling was seen in global markets also today. Asian markets fell an average of 1.3%, while US futures traded down 0.6%. The Indian stock market is also down by more than 1%.
Expert opinion: Stress spoils the game Bilal Khan, head of international equity sales at Karachi-based brokerage firm Arif Habib, said that the war-like situation in the Middle East and the pro-Iran protests inside Pakistan have completely pushed the market down. Due to violent protests, foreign and local investors are currently considering it best to withdraw their money.
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