ISLAMABAD – The ongoing air strikes and diplomatic tensions between Pakistan and Iran present another blow to nuclear-armed country struggling with worst economic crisis in recent times.
As tensions continued unabated, it also affected the Pakistan Stock Exchange. with the benchmark KSE-100 Index shedding 1000 points on Thursday.
Data shared on PSX site shows that the KSE-100 index lost 770.12 points, standing at 62,797.21. Experts link the sudden downward shift to Pakistan-Iran skirmishes near the Southwestern border.
On Wednesday, Iran launched attacks inside Pakistan targeting children, and what followed was Pakistan’s retaliatory strikes in Iran’s Siestan-o-Baluchistan province.
The ongoing attacks between neighboring countries affected investor sentiment, offsetting positives on the external account.
The stock market is vulnerable to such escalations and likewise, it responded unfavorably.
Operation Marg Bar Sarmachar: Pakistan hits back Iran in retaliation to deadly air strikes