A mountain of sorrow fell on poor Pakistan! Chaos in Karachi Stock Exchange, investors lost Rs 78 thousand crores

When peace talks between Iran and America failed, there was chaos in the stock markets of the whole world. Monday proved to be ‘Black Monday’ for the stock market. Its most lethal impact has been on neighboring Pakistan, where the Karachi Stock Exchange (KSE) collapsed like a house of cards. This decline has broken the back of Pakistan’s already troubled economy and investors have lost billions of rupees.

Heavy fall in Karachi Stock Exchange

The figures of Karachi Stock Exchange (KSE) on Monday surprised everyone. A huge fall of more than 7000 points was recorded in the index during the trading session. The KSE touched a low of 160,158.92 points, while it had closed at 167,191.38 points a day earlier. However, the market calmed down a bit in the afternoon, but was still seen trading with a fall of 6400 points. Interestingly, till the 10th of this month, the market had seen a rise of more than 12 percent, but the failure of peace talks turned all the happiness into sadness.

Pakistani investors got a shock of Rs 78 thousand crores

The damage that investors have suffered due to this market crash has added to the poverty of Pakistan. The total market cap of Karachi Stock Exchange on April 10 was $66.58 billion, which fell to $63.78 billion on Monday. That means there was a loss of $2.8 billion in just a few hours. If this is converted into Pakistani currency, it amounts to more than 78 thousand crore Pakistani rupees. Experts say that if the situation does not improve soon, this decline may become even more dangerous in the coming days.

Effect visible in India too, Sensex-Nifty fell

The heat of Iran-America tension reached Indian markets also, but the loss here was much less as compared to Pakistan. Bombay Stock Exchange’s ‘Sensex’ fell by about 703 points and closed at 76,847.57, although at one time it had fallen by more than 1600 points. At the same time, ‘Nifty’ of National Stock Exchange also fell by 207 points to the level of 23,842.65. Market experts believe that investors are scared due to global tension and failure of peace talks and are currently looking for safe investments.