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.
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