As growing geopolitical tensions with India shook investor confidence and fueled widespread selling, the capital market fell precipitously on Thursday, reversing previous gains.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) finished at 115,019.81, down 2,206.33 points, or 1.88%, from the previous close of 117,226.14.
During intraday trading, the index dropped 2,564.94 points, or 2.19%, to as low as 114,661.20.
“Markets are waiting for clarity to see if the situation escalates because they are unsure of our response to India’s action,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
