Pakistan Stock Exchange Website Taken Offline Temporarily
The benchmark KSE-100 index dropped 2.12 percent, or 2,485.85 points, to 114,740.29 within the first five minutes of trading on Thursday. The downward trend on Thursday follows another drop on the previous day, when the PSX closed lower after the International Monetary Fund (IMF) cut Pakistan’s GDP growth forecast to 2.6% for the current fiscal year
Amidst the political ruckus with India following the Pahalgam terror attack, the Pakistan Stock Exchange (PSX) website was temporarily taken offline on April 25, displaying a message “We’ll be back soon."
During the last two days after the terror attack, the benchmark index dropped by over 2,500 points due to heightened geopolitical tensions between India and Pakistan, triggered by the Pahalgam attack. The PSX website displayed a message stating “we’ll be back soon," indicating that it was under maintenance until further notice.
The benchmark KSE-100 index dropped 2.12 percent, or 2,485.85 points, to 114,740.29 within the first five minutes of trading on Thursday. The downward trend on Thursday follows another drop on the previous day, when the PSX closed lower after the International Monetary Fund (IMF) cut Pakistan’s GDP growth forecast to 2.6% for the current fiscal year.
The investor confidence also dropped due to economic and political challenges. Fitch Ratings recently flagged concerns over Pakistan’s weakening currency, ongoing political uncertainty, and growing security risks.
The Ministry of External Affairs, India, announced a series of tough measures in response to the attack, including the suspension of the Indus Waters Treaty, immediate closure of trade via the Wagah-Attari border, and the revocation of visa exemptions for Pakistani nationals under the SAARC framework.
