The Pakistan Stock Exchange (PSX) experienced a sharp drop at the start of the negotiation today, while the KSE-100 index plunged 2485 points at the start of the session, falling to 114,740 points.
Over the day, the market showed signs of slight recovery, narrowing the loss to 1196 points. At noon, the current index was 116,030.02 points.
This clear drop comes in the midst of continuous volatility during recent negotiation sessions. While the market had previously affected a record level, crossing the 120,000 earlier mark this year, the feeling has since become a drop, with decreases recorded for consecutive days, including yesterday.
Market analysts attribute fluctuations in investors’ uncertainty and profit after the recent gathering.
Gout follows tensions between New Delhi and Islamabad in the aftermath of a deadly attack in Pahalgam, in India illegally occupying Jammu-et-Cachemire (IIOJK), where 26 tourists were killed and 17 others injured.
India had suspended the 1960s water treaty with an immediate effect, closed the border crossing of Attari-Wagah and prohibited Pakistani nationals from entering the country. Those already in India were ordered to leave within 48 hours.
In addition, the Indian government has expelled all the Pakistani military advisers from the New Delhi Pakistani High Commissioner and recalled its own Military Service and Auxiliary Service Advisors to the Islamabad High Commissioner.
India has also asked Pakistan to reduce the strength of its diplomatic staff to New Delhi from 55 to 30, signaling a strong downgradment of diplomatic relations.
