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Business Standard
09-05-2025
- Business
- Business Standard
Pakistan stock exchange continues to feel effects of India-Pak conflict
The Pakistan Stock Exchange (PSX) on Friday continued to feel the effects of the ongoing conflict in the region with equity investors said to have suffered 820 billion rupees in losses in the last three days. The market opened, like the last three days, to conflicting sentiments but by close, had recovered more than 700 points. The benchmark KSE-100 index climbed 799.65, or 0.77 per cent, to stand at 1,04,326.46 from the previous close of 1,03,526.81 at 11:06 am. The volatility had increased following the military confrontation between India and Pakistan triggered by the April 22 Pahalgam terror attack that had cross border linkages. Yousuf M Farooq, director research at Chase Securities said such short-term volatility and corrections are a normal feature of equity markets. "We are advising our clients that only long-term investors participate in the market, maintaining discipline during periods of uncertainty and gradually building their portfolios over time," he said. Sana Tawfik, head of research at Arif Habib Limited, said that having suffered its largest plunge by 6.5 points in the last two days investors had shown some resilience on Friday, even with fears of increased drone attacks across the country. "The stocks showed some recovery today and were up two per cent in the first 30 minutes of trading," she said. She said no major development of escalation by afternoon had calmed the market. Other financial analysts said that some investors, after assuming that the conflict wouldn't break out into a full scale war, have started accumulating stocks trading at highly attractive valuations following the sharp drawdown over the past week. Early on Wednesday, Indian armed forces conducted precision strikes under Operation Sindoor in Pakistan and Pakistan-occupied Kashmir (PoK), targeting terror launchpads. The strikes were in response to the attack by terrorists in Jammu and Kashmir's Pahalgam killing 26 people on April 22. Pakistan resorted to indiscriminate firing in the border areas killing 13 Indians and injuring several others. On Thursday, Pakistan increased the intensity of its unprovoked firing across the Line of Control using mortars and heavy calibre artillery in areas in Kupwara, Baramulla, Uri, Poonch, Mendhar and Rajouri sectors in Jammu and Kashmir, killing 16 people.
Indian Express
30-04-2025
- Business
- Indian Express
Pakistan stock market dips sharply amid escalating tensions with India
Trading in the Pakistan Stock Exchange (PSX) remained in the negative on Wednesday owing to the escalating tensions with India following the terror attack in Jammu and Kashmir's Pahalgam that killed 26 people. Shares at the PSX fell over 2,000 points in intraday trade amid uncertainty over speculation that India might launch military strikes against Pakistan. On Tuesday evening, Information Minister Ataullah Tarar added to the uncertainty by claiming that Pakistan had credible intelligence that India intends to carry out military action against it in the next 24-36 hours. Earlier in the day, Prime Minister Narendra Modi in a meeting with the top defence brass gave them 'complete operational freedom' to decide on the mode, targets and timing of India's response to the Pahalgam terror attack. The benchmark Karachi Stock Exchange-100 index decreased by 1,717.35 points, or 1.5 per cent, to stand at 113,154.83 on Wednesday morning from the last close of 114,872.18. At 10:38 am, the index declined by 2,073.42 points, or 1.8 per cent, from the last close. Yousuf M Farooq, director of research at Chase Securities, said the decline was due to 'news of a likely attack in the next few days'. Fatima Bucha of AKD Securities said investors' concerns increased following the information minister's press briefing. 'No doubt the market is under pressure,' she said. All Karachi Tajir Ittehad Association President Atiq Mir said there was uncertainty in all business sectors due to the escalation in diplomatic and military tensions with India. 'Markets and shopping centres are not doing business as usual this week as everyone is more concerned about what will happen now,' he said. Following the April 22 terror attack, India downgraded diplomatic ties with Pakistan and announced a raft of measures, including expulsion of Pakistani military attaches, suspension of the Indus Water Treaty of 1960 and immediate shutting down of the Attari land-transit post in view of the cross-border links to the attack.
