The Pakistan stock market experienced a significant downturn on Thursday. This decline was directly related to the increasing tensions between Pakistan and Iran, which recent airstrikes have heightened.
The Pakistan Stock Exchange (PSX) data showed a sharp fall in the KSE-100 index. At 10:08 am, the index had lost approximately 1038 points. Later, by 10:31 am, the index had cumulatively dropped by 770.12 points. This brought it down to 62,797.21, a 1.21 per cent decrease from its previous close of 63,567.33.
Muhammad Sohail, the CEO of Karachi-based Topline Securities, noted the cause of this downturn. He pointed out that the drop was due to panic among investors triggered by the cross-border airstrikes.
