KARACHI : The Pakistan Stock Exchange (PSX) on Friday regained some ground after week-long bearish trend triggered by escalating tensions between Pakistan and India in the aftermath of Pahalgam incident.Investors shook off nervousness as a result of which the KSE-100 index rose to 114,127 after gaining 2,800 points during early hours of trading on Friday – the last day of business week.
There was no activity in the stock market on Thursday (May Day). On Wednesday, sharp downward trend was observed as selling pressure was all the rage due to geopolitical tensions between India and Pakistan.On the third business day of the week, the stock market opened in negative territory. At one point the benchmark KSE-100 index dropped by more than 4,000 points to 110,631.
Later, it slightly recovered and eventrually closed at 111,326 after losing 3,545 points.A day earlier (Tuesday), the KSE-100 index closed at 114,872 points with a gain of 808 points.
A late-night warning issued by Information Minister Attaullah Tarar of a likely military strike by India on Pakistan in the next 24 to 36 hours also sent shockwaves, resulting in increased selling in the PSX.
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