Pakistan Stock Market Crash: According to reports, the benchmark Karachi-100 index (KSE-100) dipped more than two per cent, or 2,500 points, to 1,14,740.29 in the first five minutes of trading.
Mumbai: The Pakistan stock exchange or PSX official website is currently non-operational amid the rising tensions between India and Pakistan following the terror attack in Kashmir’s Pahalgam. The website became non-operational after starting the session significantly lower after the Indian government took several decisions in retaliation for the terror attack that claimed 26 lives.
The PSX website displayed a “we’ll be back soon” message. There is no information available about why the website is down and when it will go live again.
According to reports, the benchmark Karachi-100 index (KSE-100) dipped more than two per cent, or 2,500 points, to 1,14,740.29 in the first five minutes of trading.
As of 12.30 pm today, the Karachi-100 index was trading at 1,14,796.33 points, down 223.49 points (0.19 per cent). Let us tell you that on Thursday, a strong fall was recorded in the Pakistani market. Yesterday, the KSE-100 fell 2.12 per cent (2485.85 points) in early trade to 1,14,740.29 points and finally closed at 1,15,128, down 1.79 per cent (2098 points).
India on Wednesday downgraded diplomatic ties with Pakistan and announced a raft of measures, including suspension of the Indus Water Treaty and immediate shutting down of the Attari land-transit post in view of the cross-border links to the terror attack.
In retaliation, Pakistan also suspended bilateral trade and accords, including the Simla Agreement, and airspaces with India, among other moves.
Meanwhile, international flights of Air India and IndiGo have been impacted by the Pakistan airspace closure on Thursday, with the Tata Group-owned airline saying its flights connecting North America, the UK, Europe and the Middle East are likely to take an alternative extended route.
Amid escalating tensions between India and Pakistan due to the Pahalgam terror attack, Pakistan on Thursday said it will bar Indian airlines from using its airspace.
