Trading at the Pakistan Stock Exchange was halted for an hour on Thursday after the benchmark index plunged over 6 per cent, triggered by panic selling. The sharp fall came amid reports that multiple drones were shot down in major cities like Karachi and Lahore. Meanwhile, in India, the Sensex is down slightly by around 138 points.
Pakistan’s stock market has now seen losses for four sessions in a row. In the last session as well, stocks plunged sharply after India carried out military strikes on terror camps across parts of Pakistan and Pakistan-occupied Kashmir. These strikes were in response to a deadly terrorist attack in Pahalgam in late April that claimed the lives of 26 Indian nationals.
On Wednesday, Pakistan’s stock market tumbled by as much as 6.2% during the day, but managed to recover slightly and closed 3.13 per cent lower.
Tensions between India and Pakistan have flared up at a time when Pakistan’s 350 billion dollars economy is already under pressure. Investors are now waiting for the IMF’s decision on whether it will extend its funding support — a verdict that’s expected tomorrow, according to a Moneycontrol report.
Indian stock market holds steady
Despite heightened tensions, Indian stock exchanges remained stable, trading mostly flat for the second straight day after the military’s Operation Sindoor. That said, there were clear signs of high market volatility.
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