Islamabad: IAF’s Air stike reflect significantly to the Pakistan stock market as it plunged below 39,000 points for the first time in the last 32 sessions on Tuesday.
IAF jets striking terror camp in Balakot spook investors, Market witness sharp fall
As per the report of Dawn, Karachi Stock Market-100 index which opened weak with a loss of 184 points in the first half hour plummet 785.12 points to close at 38,821.67. It was the largest decrease in the last 55 trading days.
In addition to the non-military pre-emptive strikes by India, the following comment by Pakistan Foreign Minister Shah Mehmood Qureshi had only created uncertainty and fear among the investors.
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An anonymous trader said, "The foreign minister`s comment that Pakistan will respond to India`s act of aggression at times and place of its choosing has put the market and investors in a state of uncertainty and fear, which might take some time to recede,”
India on Tuesday carried out air strikes deep inside Pakistan, destroying a major camp of JeM and eliminating a “large number” of terrorists, including top commanders, of the terror group which attacked a CRPF convoy in Pulwama 12 days back. India launched operation at around 3.30 am and completed within minutes, 12 Mirage-2000 fighter jets pounded the training centre, housing around 300 terrorists, in Balakot area of Khyber Pakhtunkhwa province .