The stock markets in Pakistan continued to tumble today, as trading was halted at the Karachi Stock Exchange (KSE) amid rising geopolitical tensions. KSE fell more than 6 per cent today before the trading was halted. The stock exchange has been witnessing a continuous decline since the barbaric Pahalgam terror attack.
The main index, Karachi Stock Exchange 100 Index (KSE-100), has slipped by more than 13 per cent since April 22 when the terror attack happened, killing 26 people, most of them tourists. Apart from this, another Pakistani stock index, KSE-30, has also fallen more than 14 per cent since April 22.
Amid the grim state of the stock markets, Pakistan has only 15 billion dollars of foreign exchange reserves left and is on the verge of economic collapse. The country is seeking a fresh loan worth 1.3 billion dollar from the International Monetary Fund (IMF) to run its economy.
