Pakistan Stock Exchange Recovers After Bloodshed
Staff Report
KARACHI: Pakistan Stock Exchange recovered by 2000 points on Friday after hitting an intraday low of 4,240 points earlier due to tensions between Pakistan and India.
India had threatened to attack Pakistan after the suspension of the Indus Water Treaty. The Pakistani information minister had also held a press conference that India could attack Pakistan, which led to a bleeding stock market. The investors on the Pakistan Stock Exchange sustained a loss worth billions of rupees due to carnage in the market.
The local equity market suffered a sharp and broad-based decline on Wednesday, as intensifying geopolitical tensions between Pakistan and India sent shockwaves through investor sentiment.
The benchmark index plunged by 3.09%, losing 3,545 points to settle at 111,326, after hitting an intraday low of 4,240 points — a stark indicator of mounting market anxiety.
The downturn was primarily fuelled by fears of an imminent military escalation. The Minister for Information and Broadcasting disclosed that Islamabad has “credible intelligence” indicating that India may launch a military strike within the next 24 to 36 hours.Bears Dominate Late as Geopolitical Jitters Shake Market
The announcement triggered widespread risk aversion, with investors rushing to reduce exposure amid heightened uncertainty.
Key heavyweight stocks significantly contributed to the market’s fall. Notable laggards included LUCK, ENGROH, UBL, PPL, and FFC, which collectively pulled the index down by 1,132 points.
Despite the bearish sentiment, market participation remained resilient. Total traded volume reached 489 million shares, while the market’s total turnover stood at Rs 31.1 billion. CNERGY topped the volume chart with 46 million shares changing hands.
