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Pahalgam Terror Attack: After the terrorist attack in Pahalgam in Jammu and Kashmir, there is a fear in Pakistan about India’s possible retaliation. This is the reason that Pakistani investors are rapidly withdrawing their money from Pakistan’s stock market.
Talking about Wednesday i.e. Wednesday, there has been a tremendous decline in Pakistan’s stock market. The Karachi Stock Exchange (KSE-100 index) lost 1,303.29 points, or 1.10 per cent, closed at 1,17,127.06. This decline has come at a time when the tension between India and Pakistan seems to be increasing once again.
Tension has increased in Pakistan
Many people have died in the Pahalgam attack and the responsibility has been taken by Pakistan -based terrorist organization TRF. After this, there is a possibility of strict response in India, due to which geo-political tension in Pakistan has increased further. Not only this, in this atmosphere of uncertainty, investors took a cautious stance, which also affected the major shares of Pakistan. The stocks of veteran companies like United Bank Limited (UBL), Hub Power Company (HUBC), Habib Metro Bank (HMB), Mari Petroleum (MARI) and Angro Corp (ENGRO) saw a huge decline.
Pakistan’s growth rate also decreased
Only security issues have shaken Pakistan’s market, but global economic estimates and domestic economic conditions have also played an important role in it. The International Monetary Fund (IMF) has reduced Pakistan’s growth rate estimate to 2.6 per cent in its World Economic Outlook, which was earlier 3 per cent. This stance of IMF is due to increase in US tariffs globally and slow recovery of developing countries.
At the same time, Fitch Ratings have also indicated that Pakistan’s currency i.e. Pakistani rupee can be gradually and weaker, so that the pressure on the current account deficit can be reduced. This has a direct impact on the perception of foreign investors and they are keeping distance from the market.
Indian stock market boom
Amidst all this, India’s stock market has shown tremendous strength. The Sensex of the Bombay Stock Exchange jumped 520.90 points on Wednesday to close at 80,116.49. This was the seventh consecutive day when the market has been fast. In the last seven days, the Sensex has seen a total of 8.48 percent i.e. 6269.34 points. At the same time, the Nifty also closed at 24,328.95 with a gain of 161.70 points, and in 7 days a rise of about 1930 points.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
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