By:- B.T Team
Image Credit:- Google
Pakistan Market Crisis
Pahalgam Terror Attack Triggers Market Crash in Pakistan!
Pakistan's stock market saw a sharp decline of 1,303.29 points (1.10%) after the deadly Kashmir attack.
Stock Market Impact
The attack, by the Pakistan-based terrorist group TRF, killed 28 Indians in Pahalgam, Kashmir, heightening tensions.
Attack Details
Investor Response
Increased uncertainty led investors to withdraw capital from Pakistan’s markets, fearing Indian retaliation.
Major Losses
Key companies like UBL, HUBCO, HMB, and Engro Corporation saw significant losses due to market instability.
IMF Downgrade
The IMF revised Pakistan’s GDP growth down to 2.6%, citing political instability, security concerns, and fiscal challenges.
Currency Concerns
Fitch Ratings warned about Pakistan’s weakening currency, increasing pressure on the country’s economy.
Global Investment Outlook
Investors are adopting a cautious stance, with foreign investment expected to slow down amid rising regional tensions.
Indian Market Resilience
In contrast, India’s stock market saw gains, with the Sensex rising 520.90 points and the Nifty Index also increasing.
India’s Economic Strength
Investors remain confident in India’s economy, seeing it as resilient despite external geopolitical challenges.
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