Karachi Stock Exchange cracks as tensions escalate between India & Pakistan


(File photo: Reuters)(File photo: Reuters)

NEW DELHI: Pakistan’s benchmark stock exchange KSE (Karachi Stock Exchange) 100 on Wednesday witnessed a steep fall after the Indian Air Force (IAF) shot down one of its F-16 aircraft when it violated Indian air space.

KSE 100 touched a low of 37,330.38 (intraday) as against Tuesday’s closing value of 38,821.67, falling as much as 3.85 per cent. As of 12:59 pm (Pakistan time), the index was trading down 3.04 per cent lower at 37,675.08. However, the index recovered around the closing trade and settled 0.33 per cent lower.

The KSE 100 represents around 85 per cent of all the shares listed on the Karachi Stock Exchange.

On Tuesday, the headline index had tanked 785 points after India struck Pakistan. The KSE 100 had dropped below the 39,000-mark after IAF conducted air strikes at the Jaish-e-Mohammed’s (JeM) biggest training camp, killing “a very large number” of terrorists.

Meanwhile, domestic stock indices BSE Sensex and NSE Nifty wiped all their gains (posted in morning deals) and slipped into the red after news of airspace violation by Pakistani Air Force surfaced. As of 1:43 pm, The 30-share BSE index was marginally down 16 points or 0.04 per cent at 35,958 while the the broader Nifty index moved 15 points or 0.15 per cent lower to 10,819.


Author: Lili