Latest news with #ENGROH
News18
02-05-2025
- Business
- News18
Pakistan Stock Exchange Plunges Over 7,100 Points Since April 23 Amid Indo-Pak Tensions
Last Updated: Pakistan's market rout underscores investor unease over mounting tensions between India and Pakistan following deadly terror attack in Pahalgam that killed 26 people Pakistan's benchmark KSE-100 index tumbled by over 7,100 points, nearly 6 per cent, between April 23 and April 30, shaken by the escalating geopolitical crisis triggered by the deadly April 22 terror attack in Pahalgam, which claimed 26 lives. The market rout underscores investor unease over mounting tensions between India and Pakistan. On April 30, the index saw its sharpest recent decline, nosediving 3.09 per cent or 3,545 points to close at 111,326.57. The steep fall was attributed to investor anxiety triggered by Pakistan's information minister warning of potential military action by India within 24 to 36 hours. According to The Economic Times report, major index constituents such as LUCK, ENGROH, UBL, PPL, and FFC led the sell-off, jointly dragging the index down by more than 1,100 points. However, on May 2, the market staged a partial recovery, rebounding 2,785 points or 2.5 per cent to end at 114,119. Analysts warned this upswing might be a 'dead-cat bounce" unless diplomatic and military tensions between the two countries begin to cool. The tensions stem from the recent deadly terror attack in Pahalgam that killed 26 people. India's Response to the Pahalgam Terror Attack The April 22 incident, allegedly executed by Pakistan-backed militants targeting tourists in the Baisaran meadow of Pahalgam, has prompted a series of retaliatory moves by India. New Delhi has suspended the Indus Waters Treaty, shut down the Integrated Check Post at Attari, ordered a reduction in diplomatic staff at respective High Commissions, and granted the military unrestricted authority to decide on the timing and nature of its response. Prime Minister Narendra Modi reportedly told senior defence officials that the armed forces have full autonomy in choosing their response, including targets and strategy. On the Pakistani side, the military has ramped up deployments near the border, including positioning air defence and artillery units in forward areas. The Directors General of Military Operations (DGMOs) of both nations reportedly held a hotline conversation earlier this week to discuss the ceasefire breaches. India is said to have issued a firm warning against continued 'provocations". First Published:
Time of India
02-05-2025
- Business
- Time of India
Mounting India-Pak tensions: Pakistan stock market crashes over 7,000 points since Pahalgam terror attack
crashes! The in Pakistan has plunged over 7,100 points, approximately 6%, between April 23 and April 30, following the terrorist attack in Pahalgam that killed 26 people. This market decline is a reflection of the heightened tensions between India and Pakistan. Tired of too many ads? go ad free now The index witnessed a substantial single-day decrease of 3.09% on April 30, dropping 3,545 points to close at 111,326.57, marking its most significant decline in recent periods. Major stocks including LUCK, ENGROH, UBL, PPL, and FFC contributed significantly to the downturn, collectively causing the index to fall by more than 1,100 points, according to an ET report. Subsequently, on May 2, the market showed signs of recovery, rising by 2,785 points or 2.5% to 114,119. However, experts suggest this upturn might be temporary unless the diplomatic situation between the neighbouring countries improves. The terrorist attack on April 22 prompted significant countermeasures from India. These included the suspension of the Indus Waters Treaty, closure of the Integrated Check Post at Attari, reduction in diplomatic personnel at High Commissions, and authorisation for military forces to determine their response strategy. Prime Minister Narendra Modi has granted complete discretion to senior defence officials regarding their response methods, including the selection of targets and tactical approaches. The Indian Army launched swift counter-responses to several ceasefire breaches along the Line of Control (LoC), particularly near Kupwara and Poonch districts during the nights of April 26-27 and April 27-28. The Pakistan Army's small arms fire was met with precise retaliatory action, according to defence sources. Tired of too many ads? go ad free now Intelligence reports indicate heightened Pakistani military presence, with additional air defence systems and artillery units stationed close to the Indian frontier. A hotline discussion between the Directors General of Military Operations of both nations took place this week regarding the ceasefire violations. Indian officials reportedly delivered a strong admonition to Pakistan regarding its continued provocative actions. In a separate development, Pakistan's Ambassador to the United States, Rizwan Saeed Sheikh, sought President Donald Trump's intervention to reduce tensions. According to Newsweek, the ambassador emphasised Kashmir's significance as a critical international conflict zone and requested Washington's mediation.
Time of India
02-05-2025
- Business
- Time of India
Pakistan stock market sinks over 7,000 points since April 22 amid rising India-Pakistan tensions
India responds to Pahalgam attack Live Events Military escalation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Pakistan's benchmark KSE-100 index plunged more than 7,100 points or nearly 6% between April 23 and April 30, following the deadly April 22 terror attack in Pahalgam that killed 26 people. The market turmoil reflects growing geopolitical tensions between India and Pakistan On April 30, the KSE-100 fell sharply by 3.09% in a single day, shedding 3,545 points and closing at 111,326.57—its steepest decline in recent weeks. Heavyweight stocks such as LUCK, ENGROH, UBL, PPL, and FFC led the sell-off, together pulling the index down by over 1,100 on May 2, the index bounced back, gaining 2,785 points or 2.5% to 114,119. However, analysts cautioned that this could be a temporary recovery or a "dead-cat bounce" unless tensions between the two neighbours begin to April 22 attack, allegedly carried out by Pakistan-backed terrorists targeting tourists at the Baisaran meadow in Pahalgam, has triggered strong retaliatory steps from India. In response, New Delhi suspended the Indus Waters Treaty, closed the Integrated Check Post at Attari, ordered a reduction in diplomatic staff at High Commissions, and granted the armed forces complete operational freedom to determine the nature and timing of retaliatory Minister Narendra Modi told the top defence leadership that the armed forces have full autonomy in choosing their response, including targets and sources said the Indian Army responded swiftly to multiple ceasefire violations along the Line of Control ( LoC ), including those opposite Kupwara and Poonch districts on the nights of April 26–27 and April 27–28. Small arms firing by the Pakistan Army was met with effective the Pakistani side, military deployments have reportedly increased, including air defence and artillery units positioned at forward locations near the Indian Directors General of Military Operations of both countries spoke via hotline earlier this week to address the ceasefire violations. India is said to have issued a stern warning to Pakistan over continued Pakistan's Ambassador to the United States, Rizwan Saeed Sheikh, appealed to President Donald Trump to help de-escalate the crisis. Citing Kashmir as a major global flashpoint, the envoy called on Washington to mediate, Newsweek reported.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
