Pakistan stock market: KSE 100 index rebounds after 4-day beating on India-Pakistan tensions
At the time of writing this report, the Karachi Stock Exchange 100 or KSE-100 index was up 0.83% or 857 points at 103,531, according to data available on Bloomberg. In early trade, it rose as much as 2%.
On Thursday, the benchmark index lost over 6% of its value in intraday deals, sparking a temporary trading halt. In the last four trading sessions, the KSE 100 index lost 9.5% of its value.
The conflict between India and Pakistan has heightened after Indian military forces responded to a terror attack on its civilians in Pahalgam, Kashmir, which resulted in the death of 26 people.
As part of its response, India conducted military strikes against nine targets in Pakistan and Pakistan-occupied Kashmir early Wednesday that were 'precise and restrained' and designed to be 'non-escalatory in nature.'
India on Thursday night swiftly thwarted Pakistan's fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 places in northern and western regions of the country, as tensions soared between the two countries amid fears of a wider conflict, according to a PTI report.
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