Share prices at Pakistan Stock Exchange (PSX) crashed on Wednesday after Indian launched attacks on six cities inside Pakistan and the resultant shooting down of its fighter jets by the Pakistan military, reported 24NewsHD TV channel.
At the opening session, the PSX’s benchmark KSE-100 Index nosedived by 5,016 points or minus -4.62 percent to reach 108552.07 points.
Across-the-board selling pressure was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including OGDC, PPL, POL, HUBCO, SNGPL and SSGC traded in the red.
The heaviest fighting in more than two decades has erupted between the two neighbours, with shelling and gunfire along Loc in Kashmir.
At least 26 Pakistanis were martyred and 46 injured in Indian missile attacks inside Pakistan, Director General of Inter-Services Public Relations (DG ISPR) Lt Gen Ahmed Sharif Chaudhry said in a press conference in the wee hours of Wednesday.
The ISPR spokesperson said Indian missiles were launched at sites including Bahawalpur, Kotli and Muzaffarabad cities.
In retaliation, the Pakistan military shot down five Indian Air Force jets following Indian missile attacks, Defence Minister Khawaja Asif told Bloomberg.
On Tuesday, the PSX had witnessed a negative session as its benchmark KSE-100 closed the day lower by 534 points to settle at 113,568.51, losing the gain of nearly 1,000 points the index had made during the intra-day trading.
Reporter: Basim Iftikhar