Pak-India tensions: PSX crashes, down more than 7,000 points

Karachi: Due to the tension between Pakistan and India, the Pakistan Stock Exchange (PSX) suddenly moved from positive to negative zone, with the Index recording a decline of more than 7,000 points.

On the fourth day of the business week, the stock market witnessed a huge boom at the start of trading. With an increase of more than 1,800 points, the Pakistan Stock Exchange’s 100 Index touched the mark of 111,881 points.

Later, during trading, the stock market entered the negative zone from positive, with a decline of 7,516 points, and the 100 Index reached the level of 102,492 points.

Trading was temporarily halted due to a major downturn in the Pakistan Stock Exchange.

According to the reports, stock trading was halted for an hour under regulations due to a decline of more than 5 percent. The index fell by 6,948 points to 103,060 points and remained suspended. The Pakistan Stock Exchange administration also issued a notification of the temporary suspension of trading.

It is pertinent to note that at the end of the previous trading day, the 100 Index in the stock market closed at 110,090 points with a decline of 3,559 points.