On one hand, the indian stock market saluted Operation Sindoor carried out by india in response to the pahalgam terrorist attack and it openly gained in the red zone. On the other hand, there is a great chaos in Pakistan's stock market and investors are scared. Pakistan's benchmark stock index, which opened after the attack on Pakistan's terrorist bases on Wednesday, saw a huge fall of 5.78 percent. The KSE-100 index is trading at 107,296, down 6,272 points or 5.5 percent in early trade. Since april 23, it has fallen by a huge 9,930 points. It is worth mentioning that on april 22, an attack was carried out in pahalgam, Jammu and Kashmir, and 26 people died in it. Most of the dead were tourists. In the investigation of the security agencies, this attack was directly linked to the border.
Chaos in Pakistan's share market
After the pahalgam attack, the indian government announced to end all relations with pakistan, including trade. After this action of the indian government, on one hand, its economy is being affected very badly, on the other hand, Pakistan's share market is continuously crashing. Due to the falling share market of pakistan, billions of rupees of investors in pakistan have been lost so far. It is worth noting that along with cancelling the exemption in SAARC visa, pakistan has been extremely troubled by the action of reducing the number of Pakistani diplomats and cancelling the Indus Water Treaty. Not only this, after the pahalgam terrorist incident of 22 april, the benchmark KSE-100 index of Karachi Stock Exchange fell by 2,485 points within minutes of trading on 24 April.
Billions of rupees were lost
After 22 april, the KSE index has seen a decline of 5,494.78 points i.e. 4.63 percent. While the market cap of the Karachi Stock Exchange was $52.84 billion, it fell by 100 points to $50.39 billion on april 29. Within a few days, the Pakistani stock market has lost more than $2.45 billion. pakistan, which is already facing a crisis, has faced a more serious economic challenge. In May 2023, while inflation in pakistan increased by 38.5 percent, the foreign exchange reserves have fallen to less than $3.7 billion.
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