Pak-India tensions: PSX down over 3,000 points

Karachi: The effects of the increasing tension between Pakistan and India have also started to affect the Pakistan Stock Exchange (PSX), with the index falling by more than 3,000 points during trading.

On the third day of the trading week, trading in the stock market also started in the negative zone, with a decline of more than 3,000 points. the Pakistan Stock Exchange's 100 Index fell to a low of 111,192 points.

It is pertinent to note that at the end of the previous trading day, the 100 Index in the stock market had closed at 114,872 points with an increase of more than 808 points.

Analysts have called the increasing Pak-India tension the reason for the decline.

Topline Securities Chief Executive Muhammad Sohail says that the reason for this decline is news of a possible attack in the next few days.

AKD Securities Director of Research Owais Ashraf said that investors are worried about a possible Indian military action against Pakistan, and concerns have increased after the press briefing of the Information Minister.

On the other hand, the US currency became cheaper by Rs0.12 in the interbank market, and the dollar is trading at Rs280.90 from Rs 281.02.