Pak Mkts Rattled, Plunge Over 6%

Karachi: The Pakistan Stock Exchange plunged by over 6 per cent on Thursday with trading halted for an hour after rumours of escalation in military action by India near Karachi. Although the rumours were unfounded, the benchmark KSE100 index tumbled 6,948.73 points, or 6.32 per cent, to 1,03,060.30, before the trading was halted.

Trading resumed with Fatima Bucha of AKD Securities confirming the situation on the floor had calmed down a bit. “But the situation could get worse as investors are panicking due to the geopolitical situation,” she said. “No one is sure what is going to happen and how and if Pakistan will respond to India’s aggression.”