KSE down 272.58 points on new war threat from India

The share values in Karachi stock market tumbled on Thursday trading after renewed war threat by Indian army chief General Deepak Kapoor who said ‘New Delhi was keeping its “options open” over the Mumbai attacks’. Resultantly, bourse shed further 4.5 per cent capital as investors and brokers panicked and they remained busy in selling their holdings. Currently, the launching of the government’s much-awaited marketing supporting fund is failed to give the require results in country’s stock markets.

The Karachi Stock Exchange’s benchmark KSE-100 index lost 272.58 points to close at 5,778.58. Volume remained at 122.11 million shares. With this flaking, the bourse at the end of the session could not retain the limit of psychological barrier of 6,000 points.

According to the news, India’s army chief said that while he regarded the war as a “last resort”, the current situation meant that “we in India are keeping all our options open and that must be clearly understood.”

While government of Pakistan described the comments as “most unfortunate”. Analysts and brokers are of the view that Indian Army General’s remarks were the main reason for the market’s downward escalating.

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