Market cap of Karachi Stock Exchange after Pahalgam attack, loss of 70000 crores

Pahalgam Terror Attack: Today, a week of Pahalgam terror attack has been completed. After the terrorist attack in Pahalgam in Jammu and Kashmir on Tuesday, April 22, tension has increased between India and Pakistan. 26 innocent tourists died in this terrorist attack.

Taking a tough stand on this deadly terrorist attack, India took many tough steps against Pakistan. The prohibition of bilateral trade by the Government of India and the suspension of the Indus Water Treaty seems to have a profound impact on Pakistan’s economy as the KSE-100 index fell 1,405.45 points or 1.22 percent to close at 114,063.90 on Monday.

Pakistani stock market shakes with India’s decision

On Tuesday, the KSE-100 index has seen a decline of 1100 points. The decision to cancel the government’s SAARC visa exemption scheme, expel Pakistani Military Advisor (Athe), reduce the number of its diplomatic staff in Pakistan and shut down the attic border shook Pakistan’s stock market.

On April 24, the benchmark KSE-100 index of Karachi Stock Exchange broke within a few minutes of the start of the index business. There was a little recovery during the day, but then it fell 2,206 points to close at 115,019.81. Even today, Karachi Stock Exchange was trading at 114,007.40 points at 1:40 pm.

Lose 70 thousand crores after the Pahalgam attack

Let us know that after April 22, the KSE index has seen a decline of 5,494.78 points i.e. 4.63 percent. While the market cap of Karachi Stock Exchange was $ 52.84 billion, on April 29 it fell by 100 points to $ 50.39 billion. That is, the Pakistani stock market has lost $ 2.45 billion in a few days. According to this Pahalgam After the attack, the Pakistani stock market has lost about 700000 crores so far.

Many challenges in front of Pakistan

Apart from the fluctuations of the stock market, Pakistan is facing a serious economic crisis. In May 2023, inflation increased by 38.5 percent here. Economic growth is also going to negative. The foreign exchange reserves have come down to just $ 3.7 billion, which has now become difficult to import.

Also read:

Pakistan continues to regret a air rasp for Indian aircraft, loss of 700 crores in 5 months