Karachi Stock Exchange recovers amid global efforts to diffuse tension between India, Pakistan

Pakistan stock market recovers amid global efforts to diffuse tension between India, Pakistan

The Karachi Stock Exchange (KSE) managed to clock a strong recovery today as investors looked past border tensions between India and Pakistan. The benchmark KSE 100 rose 456 points or 1.18% to hit an intra day high of 39,149 compared to the previous close of 38,692 level. The KSE 100 index moved in a range of 38,558 and 39,149 in trade today.

The volume of stocks traded on the KSE 100 stood at 10.2 crore.

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On Wednesday, the Pakistani stock market tanked amid reports that Pakistan Air Force’s F-16 that violated Indian air space was shot down in Indian retaliatory fire 3 km within Pakistan territory in Lam valley, Nowshera sector.

The Karachi Stock Exchange (KSE) 100 crashed 1,491 points to 37,330 level compared to its previous close of 38,821. The Pakistani index had lost 2,066 points in two sessions after India conducted airstrikes in Pakistan and demolished terrorist camps across the border early morning on Tuesday

Later, the Pakistani index recovered 1,362 points to close at 38,692 level yesterday.

The KSE 100 has lost nearly 9.84% during the last one year and gained 4.30% since the beginning of this year.

Yesterday, Pakistan and Indian Airforce were engaged in aerial conflict across the line of control after Indian fighter jets destroyed terrorist camps in Pakistan on February 26.

Meanwhile, the Sensex and Nifty closed lower after clocking a positive start today. While the Sensex closed 38 points lower at 35,867, Nifty lost 14 points to end at 10,792.


Author: Lili