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Pakistan's stock market takes MASSIVE hit due to Indo-Pak tensions
Without a shot being fired, Pakistan Stock markets crashes
NEW DELHI: Pakistan's stock market on Wednesday fell an unwitting victim to the recent spike in Indo-Pak animosity, with the KSE30 index tumbling well over 500 points in the wake of reports that war was about to begin following the Uri base attack in which 18 Indian jawans were killed.
Media reports from Islamabad said the Karachi Stock Index went into crash mode as market participants mistook Pakistan Air Force's preparatory drills to be the last-minute exercise before the impending war. Pakistani authorities did not care to clarify those were only practice sorties, and rumour mills went abuzz with speculations that the brewing war between the two neighbours could begin anytime.
The stock market took its cue from unscheduled closure of airspace in the northern part of the country. The airspace closure coincided with stepped-up flights by Air Force planes, with some planes eve ..
The consequent panic in the market led KSE30 to nosedive by a huge 569 points to end the day at 39,771 points, the Dawn said in a report. The report said the panic selling was triggered by small individual investors dealing in penny stocks. Although mutual funds, bank stocks and big companies remained stable, pennies pounded the market hard and by the day's end, the 1.41% fall wiped out the entire gain clocked in the month of September.
The KSE30 has given 18 per cent returns so far this year through July 12, making it the best-performing Asian index. Compared with that, the BSE Sensex has given just 6 per cent return in the same period.
According to the Dawn report, Former Karachi Stock Exchange chairman Arif Habib said the electronic media which hyped up the tensions between Pakistan and India, was to blame for the crash in markets.
According to the Dawn report, Former Karachi Stock Exchange chairman Arif Habib said the electronic media which hyped up the tensions between Pakistan and India, was to blame for the crash in markets.
Several media organisations in Pakistan also ran reports that said Indian troops had been moved to forward locations along the LoC. Habib said media was giving the impression that a war between the two was at hand.
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@airtel @aditya10r @Abhijat @A chauhan @Alien @alphacentury @Ancient Indian @Ankit Purohit @anupamsurey @armyofhind @Bharat Ek Khoj @blueblood @brational @Bangalorean @Blackwater @Bornubus @bose @cobra commando @DingDong @DFI_COAS @ersakthivel @fooLIam @gpawar @guru-dutt @hit&run @HariPrasad-1 @Indx TechStyle @jackprince @Kharavela @Illusive @I_PLAY_BAD @LETHALFORCE @Lions Of Punjab @maomao @Mad Indian @OneGrimPilgrim @Peter @piKacHHu @pmaitra @porky_kicker @Razor @raja696 @Rowdy @Sakal Gharelu Ustad @saty @sydsnyper @Srinivas_K @Screambowl @sorcerer @Simple_Guy @Sylex21 @wickedone @tarunraju @TrueSpirit2 @thethinker @Tshering22 @vayuu1 @VIP @Vishwarupa @VIP @Varahamihira @roma @Navnit Kundu @WARREN SS
Our esteemed Terrorist Paki Panel: @Neo @Raja.pakistani @Zarvan @musalman @Zulfiqar Khan
CONGRATS!!! Without even firing a bullet India punishes Pakis by economy!
I thought you would post this news but ISI don't pay for such news to Pakis.Thanks to Pak media who self inflicted even before India could think of it.
Apne pairr pe kulhadi marna isko kahtein hein OR simply Vinash Kale Vipreet Buddhi.
MODI puts Balochistan on fire + crashes Paki Stocks without a single bullet fired.
Without a shot being fired, Pakistan Stock markets crashes
NEW DELHI: Pakistan's stock market on Wednesday fell an unwitting victim to the recent spike in Indo-Pak animosity, with the KSE30 index tumbling well over 500 points in the wake of reports that war was about to begin following the Uri base attack in which 18 Indian jawans were killed.
Media reports from Islamabad said the Karachi Stock Index went into crash mode as market participants mistook Pakistan Air Force's preparatory drills to be the last-minute exercise before the impending war. Pakistani authorities did not care to clarify those were only practice sorties, and rumour mills went abuzz with speculations that the brewing war between the two neighbours could begin anytime.
The stock market took its cue from unscheduled closure of airspace in the northern part of the country. The airspace closure coincided with stepped-up flights by Air Force planes, with some planes eve ..
The consequent panic in the market led KSE30 to nosedive by a huge 569 points to end the day at 39,771 points, the Dawn said in a report. The report said the panic selling was triggered by small individual investors dealing in penny stocks. Although mutual funds, bank stocks and big companies remained stable, pennies pounded the market hard and by the day's end, the 1.41% fall wiped out the entire gain clocked in the month of September.
The KSE30 has given 18 per cent returns so far this year through July 12, making it the best-performing Asian index. Compared with that, the BSE Sensex has given just 6 per cent return in the same period.
According to the Dawn report, Former Karachi Stock Exchange chairman Arif Habib said the electronic media which hyped up the tensions between Pakistan and India, was to blame for the crash in markets.
According to the Dawn report, Former Karachi Stock Exchange chairman Arif Habib said the electronic media which hyped up the tensions between Pakistan and India, was to blame for the crash in markets.
Several media organisations in Pakistan also ran reports that said Indian troops had been moved to forward locations along the LoC. Habib said media was giving the impression that a war between the two was at hand.
=======================================================================================
@airtel @aditya10r @Abhijat @A chauhan @Alien @alphacentury @Ancient Indian @Ankit Purohit @anupamsurey @armyofhind @Bharat Ek Khoj @blueblood @brational @Bangalorean @Blackwater @Bornubus @bose @cobra commando @DingDong @DFI_COAS @ersakthivel @fooLIam @gpawar @guru-dutt @hit&run @HariPrasad-1 @Indx TechStyle @jackprince @Kharavela @Illusive @I_PLAY_BAD @LETHALFORCE @Lions Of Punjab @maomao @Mad Indian @OneGrimPilgrim @Peter @piKacHHu @pmaitra @porky_kicker @Razor @raja696 @Rowdy @Sakal Gharelu Ustad @saty @sydsnyper @Srinivas_K @Screambowl @sorcerer @Simple_Guy @Sylex21 @wickedone @tarunraju @TrueSpirit2 @thethinker @Tshering22 @vayuu1 @VIP @Vishwarupa @VIP @Varahamihira @roma @Navnit Kundu @WARREN SS
Our esteemed Terrorist Paki Panel: @Neo @Raja.pakistani @Zarvan @musalman @Zulfiqar Khan
CONGRATS!!! Without even firing a bullet India punishes Pakis by economy!
I thought you would post this news but ISI don't pay for such news to Pakis.Thanks to Pak media who self inflicted even before India could think of it.
Apne pairr pe kulhadi marna isko kahtein hein OR simply Vinash Kale Vipreet Buddhi.
MODI puts Balochistan on fire + crashes Paki Stocks without a single bullet fired.
