Pakistan Share Market: There is a panic of war in Pakistan amid missiles and drone attacks between India and Pakistan. However, the Pakistan stock market got some strength in the hope of getting loans from IMF. The Karachi Stock Exchange reached 799.65 points to 104,326.46 today. Later it declined slightly and reached 103700 with a gain of 173 points.
Pakistani investors believe that there will be no complete war between India and Pakistan. Here the market has also reached the position of over soldation. In such a situation, many investors have now started shopping in cheap stocks.
After the Indian Army attack in Karachi, the Pakistani Stock Exchange fell by more than six percent on Thursday and the business was stopped for one hour. The KSE 100 index fell 6,948.73 points, or 6.32 percent, to 1,03,060.30 points. Also Read: Pakistan’s stock market destroyed in war panic, 7000 points dropped
Meanwhile, the government has taken steps to keep its foreign exchange reserves stable. It has imposed a 60 -day ban on imports and exports of precious metals, jewelery and gems since Thursday.
The temporary sanctions were imposed by the order of the Ministry of Commerce, in which the 2013 SRO 760 was suspended, which controls the trade of precious metals. This ban is associated with recent deadlock with India as a possible strategy to limit the flow of metals.
State Bank of Pakistan has also advised all currency traders to closely monitor the dollar in informally inter-banks and open markets, as the increasing struggle may increase the demand for dollar.
Edited by: Nrapendra Gupta
